Within his recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras chose the maverick academic Varoufakis to be the treasury head mainly due to his worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader claims how his finance chief possessed a personal motives that involved promoting Varoufakis's books and experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
He wrote how the negotiations to prevent bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile discussions, Greece came perilously close to exiting the eurozone.
At stake was not only Greece's future but also the severe austerity policies demanded in exchange for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, a move that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
This account of history 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.
