In a newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that turbulent period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, he chose the maverick academic Varoufakis to be his treasury head mainly due to his worldwide fame along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved promoting his publications as well as testing out his own economic models on the nation rather than genuinely fighting for its financial survival.
Tsipras wrote how the discussions to stave off bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic chance to demonstrate the validity of his ideas.”
Critical Talks
Amid tense negotiations, the country came perilously on the brink of exiting the single currency area.
On the line was both Greece's future and those punishing austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, a move which plunged Europe into a further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He further wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has provoked anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
