In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he appointed that maverick economist Varoufakis to be his finance minister mainly because of the latter's global profile and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, actually, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal motives that included promoting Varoufakis's books as well as testing out his own theories on Greece rather than genuinely fighting for its financial survival.
He noted that those discussions to prevent insolvency were “not only a way of achieving improved terms for the country. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and the severe austerity policies demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further claimed that his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
