Within his freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras chose the maverick academic Varoufakis as his treasury head largely because of the latter's global profile and his highly compelling skills as a public orator.
“He was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda which involved advancing Varoufakis's publications and testing out his own theories on the nation rather than genuinely fighting for the country's financial survival.
He explained how the talks to stave off insolvency were “not only a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay not only the country's destiny but also the harsh austerity policies demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
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
That summer, the punitive bailout terms were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister had little option to reject its outcome then agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras also wrote that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
