In a newly released autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the turbulent period during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as his finance minister largely due to the latter's global profile along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own motives that included advancing Varoufakis's books and experimenting with his own theories using Greece rather than truly fighting for the country's economic stability.
Tsipras noted how those negotiations to avoid insolvency were “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the single currency area.
At stake was both the country's destiny and those harsh austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action which threw Europe into further crisis of identity.
Even though the vote was won decisively by those against austerity, Tsipras was forced to ignore the result then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras further wrote that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
