In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that turbulent period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as his treasury head largely because of his global profile and his very persuasive abilities as a public orator.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims that his finance chief had his own motives that included promoting Varoufakis's books as well as testing out his own economic models on Greece rather than genuinely advocating the country's economic stability.
Tsipras explained how the talks to prevent bankruptcy were “not only a way to secure a better deal for the country. They became a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
During volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was not only the country's destiny and the harsh austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were put to a public vote, a move which threw Europe into a further existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to retirees, the leader knew that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He also wrote that his confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The retelling of events has been met with fury along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
