In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be his finance minister primarily due to the latter's global profile along with Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, in reality, more like a celebrity and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own agenda that included advancing Varoufakis's publications as well as testing out his own theories on the nation instead of truly advocating the country's economic stability.
He noted that those negotiations to stave off insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future and the severe austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
He further wrote how his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
