In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras appointed the unorthodox economist Varoufakis to be his treasury head primarily due to his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own motives which included promoting Varoufakis's publications as well as testing out his economic models on Greece instead of truly advocating its economic stability.
He wrote that those talks to avoid insolvency were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay not only the country's future and those harsh cutbacks required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of history has been met with fury and shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
