In a newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras chose the maverick academic Varoufakis as the treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had his own motives that included advancing Varoufakis's books as well as experimenting with his economic models on Greece instead of truly fighting for the country's economic stability.
Tsipras noted that the discussions to prevent insolvency became “not only a way of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece came dangerously close to leaving the eurozone.
At stake was not only the country's destiny and those punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, an action which threw Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome then agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
