In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras pulls no punches as he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's version, he appointed the maverick academic Varoufakis to be his finance minister largely because of his worldwide fame along with his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal agenda that involved promoting Varoufakis's publications and experimenting with his game theories on the nation rather than genuinely fighting for the country's economic stability.
He explained that those negotiations to prevent insolvency were “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's future but also those harsh cutbacks required in return for bailout funds from international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face 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 his new role.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
The account of events has been met with fury along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
