In a freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back while he examines that turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's account, he selected the maverick academic Varoufakis to be the treasury head largely due to his global profile and his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests that his finance chief had his own agenda that involved promoting his publications and experimenting with his own economic models on Greece rather than genuinely fighting for its economic stability.
He explained that the discussions to avoid insolvency became “not just a method to secure a better deal for Greece. They were a test, a monumental chance to prove the truth of his economic theories.”
Critical Talks
Amid tense discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only the country's destiny but also those severe austerity policies demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action which threw Europe into further existential crisis.
Although the referendum was carried decisively by those who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
This retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
