In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, he selected the unorthodox academic Varoufakis to be his treasury head primarily due to the latter's international reputation and his highly compelling skills as a communicator.
“He was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis possessed a personal motives which involved promoting his books as well as testing out his own theories on Greece instead of truly advocating its economic stability.
He wrote how those negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They were a test, an historic opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line lay both Greece's destiny and the punishing austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome then negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for Grexit.
The account of history has been met with fury along with shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
