Within his newly released autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that chaotic period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's version, he chose that maverick economist Varoufakis as the treasury head primarily due to the latter's global profile and Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed his own motives that involved promoting his publications and experimenting with his own theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras explained that those negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense discussions, Greece found itself dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's future but also those severe austerity policies demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, a move which plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those against austerity, the prime minister was forced to ignore the result then negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
He further wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
