In a newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he selected that maverick economist Varoufakis as his treasury head largely due to his global profile and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives which involved advancing Varoufakis's publications as well as testing out his own theories on Greece instead of truly fighting for its economic stability.
He noted how those negotiations to avoid insolvency became “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also those harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were put to a public vote, an action that plunged the EU into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors that proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
