Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, Tsipras appointed that maverick economist Varoufakis as his treasury head mainly due to the latter's global profile and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how Varoufakis had his own motives that involved advancing Varoufakis's publications as well as testing out his own game theories on the nation rather than truly advocating its economic stability.
He wrote how those talks to avoid insolvency were “not only a way of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay both Greece's future but also those harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further wrote that his confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
