Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he appointed that maverick economist Varoufakis as his treasury head primarily because of his global profile along with his very persuasive abilities as a public orator.
“He was, actually, more like a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that his finance chief had a personal agenda that involved advancing his publications and experimenting with his economic models using Greece instead of genuinely advocating the country's financial survival.
Tsipras explained that the talks to stave off insolvency became “not only a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously close to exiting the eurozone.
At stake was not only Greece's future and those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, an action that plunged the EU into a further existential crisis.
Even though the vote was won decisively by voters against the cuts, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
