Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he chose that maverick academic Varoufakis to be the finance minister largely due to his international reputation along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how his finance chief had a personal motives that included advancing his publications as well as testing out his theories using Greece instead of truly fighting for its financial survival.
He wrote how the talks to stave off bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was both the country's future and the harsh austerity measures demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a bailout package with foreign lenders which proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked fury along with shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
