Within his freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he examines that turbulent era during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, Tsipras selected that maverick academic Varoufakis as his finance minister primarily because of his international reputation along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal agenda that included promoting Varoufakis's books as well as testing out his economic models on Greece rather than truly advocating its economic stability.
Tsipras wrote that those discussions to prevent bankruptcy became “not only a method to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During rollercoaster discussions, the country came perilously close to exiting the single currency area.
On the line was both Greece's future but also those punishing cutbacks demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were put to a public vote, an action which plunged Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras had little option to ignore the result and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
He also claimed that Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
