In a recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras chose that unorthodox economist Varoufakis as the finance minister mainly because of the latter's global profile along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims how his finance chief possessed his own motives which involved promoting his publications and experimenting with his theories using the nation instead of truly fighting for its financial survival.
He wrote that those negotiations to prevent bankruptcy became “not only a method of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny but also the severe cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh bailout terms were subjected to a public vote, a move which plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself “unfit for a deal that required intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
