Within his newly released autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras appointed the maverick economist Varoufakis as his finance minister largely due to the latter's worldwide fame and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal motives that included advancing Varoufakis's books and experimenting with his own theories using Greece rather than genuinely advocating its financial survival.
He wrote how those talks to stave off bankruptcy became “not only a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, the country found itself perilously close to exiting the single currency area.
On the line was not only Greece's future but also the harsh cutbacks demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, Tsipras was forced to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
