In a newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras selected the maverick economist Varoufakis to be his treasury head largely because of his international reputation along with his highly compelling skills as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had a personal agenda that included advancing Varoufakis's books as well as testing out his economic models on Greece rather than genuinely advocating its financial survival.
Tsipras noted that the discussions to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
During volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only the country's destiny but also those severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move that threw Europe into further existential crisis.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The retelling of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
