Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he chose the unorthodox academic Varoufakis to be his treasury head mainly because of the latter's international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“He was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had a personal agenda which involved advancing his books as well as experimenting with his own economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras noted that the talks to prevent insolvency became “not just a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Negotiations
During tense discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's future but also the severe austerity measures required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required complex and sensitive handling.”
He further wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with anger and shock among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
