Within his newly released autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras chose the unorthodox academic Varoufakis to be his finance minister primarily due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had a personal agenda that included advancing Varoufakis's publications and experimenting with his theories on the nation instead of truly fighting for its financial survival.
He explained that the discussions to prevent insolvency became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay both the country's future but also those harsh austerity policies required in return for rescue loans from foreign lenders.
Failed Options
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, an action which plunged the EU into further existential crisis.
Although the referendum was won decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and issuing coupons to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
