Within his newly released personal account, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, Tsipras chose the unorthodox economist Varoufakis to be his treasury head primarily due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had his own agenda which involved advancing Varoufakis's publications and experimenting with his own economic models using Greece rather than genuinely fighting for its economic stability.
Tsipras wrote that those talks to prevent bankruptcy were “not just a way to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
During volatile negotiations, the country came perilously on the brink of leaving the single currency area.
On the line lay not only the country's future and those harsh austerity measures required in return for rescue loans from international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were put to a popular referendum, an action that plunged Europe into deeper existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
He also claimed that his confrontational approach left him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
