Within his freshly published autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he chose that unorthodox academic Varoufakis as the treasury head mainly due to the latter's worldwide fame and his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives that involved advancing Varoufakis's books as well as experimenting with his economic models on Greece rather than genuinely advocating its economic stability.
Tsipras noted that the discussions to prevent bankruptcy became “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
During volatile negotiations, Greece found itself perilously close to exiting the eurozone.
On the line was not only Greece's destiny and the severe cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then negotiate a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
He further wrote that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
The account of events has been met with anger along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
