Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed the unorthodox academic Varoufakis as the finance minister largely due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal agenda which included promoting Varoufakis's publications and testing out his own economic models on the nation instead of truly advocating its financial survival.
Tsipras explained that those talks to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously close to leaving the single currency area.
On the line lay not only the country's future and the harsh austerity measures demanded in exchange for financial aid from international creditors.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, a move that plunged the EU into further existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This account of history has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
