In a recently unveiled memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines that chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis to be the treasury head mainly because of the latter's global profile along with his very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal motives which involved promoting Varoufakis's books as well as testing out his own economic models on Greece rather than genuinely advocating its economic stability.
He explained how the negotiations to stave off insolvency became “not just a method of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny and the harsh austerity policies demanded in exchange for bailout funds by international creditors.
Failed Options
Attempts to find financing from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras further wrote that his confrontational style made him increasingly isolated among peers, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
