In a newly released personal account, named Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis as the finance minister primarily because of the latter's international reputation along with his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more of a personality rather than an economist,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief possessed his own motives that included promoting his books and testing out his theories using the nation rather than genuinely advocating its financial survival.
He explained that the discussions to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously close to exiting the eurozone.
On the line was both the country's destiny but also those harsh austerity policies demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal with foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed how his aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
This account of history has provoked anger and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
