Within his newly released personal account, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he selected that maverick academic Varoufakis as the finance minister largely because of the latter's worldwide fame and his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims how his finance chief had his own motives which included advancing his books as well as experimenting with his economic models on Greece instead of truly advocating its financial survival.
Tsipras noted that those talks to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny but also those punishing cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were put to a popular referendum, a move which threw Europe into a deeper existential crisis.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This account of history has provoked fury and shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
