In a freshly published autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back while he examines that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, he appointed the maverick economist Varoufakis to be the treasury head largely because of his worldwide fame and his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal motives which involved promoting Varoufakis's books and testing out his game theories on the nation instead of truly advocating the country's financial survival.
Tsipras explained how the talks to stave off insolvency became “not only a way of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also those severe austerity measures demanded in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, a move that plunged Europe into further existential crisis.
Even though the vote was won resoundingly by voters against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
He also wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
