Within his freshly published autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis to be the treasury head mainly because of his global profile along with his highly compelling abilities as a communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had his own agenda that involved advancing Varoufakis's publications and testing out his own economic models on the nation rather than truly fighting for the country's economic stability.
Tsipras noted that those discussions to avoid bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
During volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was not only Greece's future and the punishing cutbacks required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a public vote, a move that threw the EU into deeper existential crisis.
Even though the vote was won decisively by voters against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
Tsipras further claimed how his confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
This account of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
