Within his freshly published autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that chaotic era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he appointed that unorthodox academic Varoufakis to be the finance minister largely due to the latter's worldwide fame along with his very persuasive skills when it came to public orator.
“He was, actually, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own motives that included promoting his publications as well as experimenting with his own economic models on Greece rather than genuinely fighting for its economic stability.
He noted how those talks to avoid bankruptcy became “not only a way of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and those punishing austerity measures required in return for financial aid from international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that threw Europe into a deeper crisis of identity.
Even though the vote was won decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal that required complex and sensitive handling.”
He further claimed that his confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
