Within his recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back while he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head primarily because of his international reputation along with his “extremely attractive” abilities when it came to public orator.
“He was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief had a personal agenda which involved promoting Varoufakis's books as well as testing out his game theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras noted how those negotiations to stave off insolvency were “not just a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During tense negotiations, the country found itself perilously close to exiting the single currency area.
On the line was both Greece's future but also those severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that Varoufakis had proved himself “unfit for a deal that required intricate and delicate management.”
He also claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
