In a newly released autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the chaotic era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras chose the maverick economist Varoufakis as his finance minister largely due to the latter's international reputation along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed a personal agenda which involved promoting his books and experimenting with his own theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote that the talks to avoid bankruptcy became “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also those harsh austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating Grexit.
This account of events has been met with anger along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
