In a newly released autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras selected the unorthodox economist Varoufakis to be his treasury head largely because of the latter's global profile along with his highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal motives that involved advancing Varoufakis's books as well as testing out his own economic models using the nation rather than genuinely fighting for the country's financial survival.
He noted that the negotiations to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and those severe austerity policies required in return for bailout funds by international creditors.
Failed Options
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move that plunged the EU into further existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate handling.”
He also wrote that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks who were advocating Grexit.
This retelling of history has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
