In a freshly published autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he selected that unorthodox academic Varoufakis as his treasury head mainly due to his worldwide fame along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims that Varoufakis had his own motives which involved advancing Varoufakis's publications and testing out his own theories on Greece instead of truly fighting for the country's economic stability.
He noted how those negotiations to avoid insolvency became “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both the country's future but also those harsh cutbacks required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were put to a popular referendum, an action which threw Europe into further crisis of identity.
Even though the vote was carried decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further wrote how his aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
