In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic era during Greece's debt drama.
A Controversial Choice
According to Tsipras's account, Tsipras selected that unorthodox academic Varoufakis to be the treasury head primarily because of the latter's global profile and his “extremely attractive” skills when it came to public orator.
“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own agenda that included promoting Varoufakis's books as well as experimenting with his theories on Greece instead of truly advocating its economic stability.
Tsipras noted how the talks to avoid insolvency became “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's destiny but also the punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal from creditors which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes how his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
Tsipras further claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
