Within his freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's account, Tsipras selected the maverick academic Varoufakis as his treasury head mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed his own motives that included promoting his books as well as testing out his economic models using the nation instead of truly advocating its economic stability.
Tsipras noted that the negotiations to prevent insolvency became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During volatile discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny but also those severe austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the referendum was won decisively by voters against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
