In a freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected the maverick economist Varoufakis to be the treasury head mainly due to the latter's international reputation along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had his own motives that included promoting Varoufakis's publications and experimenting with his own theories using Greece rather than genuinely advocating its economic stability.
He noted how the discussions to prevent bankruptcy became “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the single currency area.
At stake was not only the country's future and the punishing austerity policies demanded in return for rescue loans by international creditors.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, an action that threw the EU into a further existential crisis.
Even though the vote was carried decisively by voters against austerity, the prime minister was forced but to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
