Within his freshly published memoir, named Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on the turbulent era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, Tsipras chose the unorthodox academic Varoufakis as his finance minister mainly due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how his finance chief had a personal agenda which included advancing Varoufakis's books as well as experimenting with his economic models on Greece instead of genuinely fighting for its financial survival.
Tsipras wrote how those discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line was not only the country's future but also those severe austerity measures required in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a public vote, a move which plunged Europe into a further existential crisis.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option to ignore the result and negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included creating a secondary currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself to be “unfit for a deal that required complex and sensitive handling.”
He also claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
