In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox academic Varoufakis as his finance minister largely because of his worldwide fame along with Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had his own motives that included promoting Varoufakis's books and testing out his game theories on the nation instead of genuinely advocating its economic stability.
He noted that those discussions to avoid bankruptcy were “not just a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only the country's future but also those punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move which plunged the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of history has provoked anger and shock among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
