In a recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed the maverick academic Varoufakis as his finance minister mainly due to the latter's global profile and Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal agenda that involved advancing Varoufakis's publications as well as experimenting with his theories on Greece rather than truly fighting for its financial survival.
Tsipras wrote that those talks to prevent insolvency were “not just a method to secure improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and the punishing austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also claimed how his aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
