Within his newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches while he reflects on the chaotic era during Greece's debt drama.
An Unconventional Choice
In Tsipras's recollections, he appointed that maverick academic Yanis Varoufakis as his treasury head largely because of his international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal motives which involved promoting Varoufakis's books and testing out his own economic models using the nation rather than genuinely fighting for its financial survival.
Tsipras noted how those talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, a move that plunged the EU into deeper existential crisis.
Even though the referendum was won decisively by those against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed that his aggressive style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
