Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, he chose the unorthodox academic Varoufakis to be his treasury head largely because of his international reputation along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda which included promoting Varoufakis's books as well as experimenting with his economic models using Greece rather than genuinely fighting for the country's economic stability.
He explained that those talks to prevent bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny but also the punishing austerity measures required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, an action that threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote how his aggressive style made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
This retelling of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
