In a newly released autobiography, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on that chaotic period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, he appointed the unorthodox economist Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his own game theories on the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote that the discussions to stave off bankruptcy were “not just a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake was both Greece's destiny and those severe austerity measures required in exchange for bailout funds by international creditors.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
