In a newly released autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, he appointed the maverick academic Varoufakis to be his treasury head largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal motives that included promoting his publications as well as experimenting with his theories using the nation instead of truly fighting for its financial survival.
He noted that the discussions to stave off insolvency became “not just a way to secure a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay not only Greece's destiny but also those punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, an action which plunged the EU into a further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unfit for a deal demanding intricate and delicate management.”
He also claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
