In a recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras appointed the unorthodox economist Varoufakis to be his treasury head primarily due to the latter's international reputation and his very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives that involved advancing his publications and experimenting with his own theories using the nation instead of genuinely fighting for its economic stability.
Tsipras noted how those negotiations to prevent bankruptcy became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay both the country's destiny and the punishing cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were subjected to a public vote, an action which plunged Europe into a further crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option to ignore the result and agree to a bailout package from creditors which proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts that his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras further wrote how his confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
