Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, he chose that maverick economist Varoufakis to be his treasury head largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had his own agenda that included advancing Varoufakis's publications and experimenting with his own economic models using Greece rather than genuinely advocating the country's financial survival.
Tsipras noted that those negotiations to prevent bankruptcy became “not just a way of achieving a better deal for Greece. They were a test, an historic opportunity to prove the truth of his economic theories.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to exiting the eurozone.
At stake lay not only the country's destiny but also those punishing austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and issuing coupons to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He further claimed that his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
