Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras selected the maverick academic Varoufakis as his finance minister mainly due to the latter's global profile along with Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had his own motives which included promoting Varoufakis's books and testing out his economic models using the nation instead of genuinely advocating its economic stability.
He noted that the negotiations to prevent bankruptcy were “not just a method to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's future and those punishing austerity policies required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, a move which threw the EU into further crisis of identity.
Although the vote was won decisively by voters against the cuts, the prime minister was forced to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He also claimed that his confrontational approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
