In a freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras chose the maverick academic Varoufakis as the treasury head primarily because of his worldwide fame and his highly compelling skills when it came to communicator.
“He was, actually, more like a star and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives that involved advancing Varoufakis's publications as well as testing out his economic models on Greece rather than genuinely advocating the country's financial survival.
Tsipras explained that those talks to avoid insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the harsh cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He further claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
