In a freshly published autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected the maverick economist Varoufakis to be the treasury head largely because of the latter's global profile along with his highly compelling skills when it came to public orator.
“He was, actually, more like a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges that Varoufakis had his own motives that involved advancing Varoufakis's publications and experimenting with his own theories using the nation rather than truly advocating its financial survival.
Tsipras explained that the discussions to avoid insolvency became “not just a method of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those punishing cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were put to a public vote, a move that threw the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed that his confrontational style made him more and more alone among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
