In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, he selected that unorthodox academic Varoufakis to be his finance minister largely because of his worldwide fame and his very persuasive abilities as a speaker.
“He was, truthfully, more of a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own agenda which included advancing Varoufakis's publications as well as experimenting with his game theories on the nation instead of truly fighting for the country's economic stability.
Tsipras noted that those negotiations to stave off bankruptcy were “not only a way of achieving a better deal for the country. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only the country's destiny but also the punishing austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a popular referendum, a move that plunged the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how his aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
