In a recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be the finance minister largely due to the latter's international reputation and Varoufakis's highly compelling abilities as a public orator.
“He was, actually, more of a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal agenda that included advancing his publications as well as testing out his theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras explained that the talks to avoid bankruptcy became “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line was both Greece's future and the punishing austerity policies required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, a move that plunged the EU into a further crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras also claimed that his aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
