Within his recently unveiled autobiography, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that chaotic period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he chose the unorthodox academic Varoufakis to be his treasury head mainly due to his global profile and his “extremely attractive” abilities as a public orator.
“He was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had a personal agenda that involved promoting his publications and testing out his own theories using Greece instead of genuinely advocating the country's economic stability.
He explained how the talks to avoid bankruptcy became “not only a method of achieving improved terms for the country. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
On the line was both Greece's destiny and the punishing cutbacks demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged Europe into further crisis of identity.
Although the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
The retelling of history has been met with fury and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
