In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's recollections, he chose the maverick academic Varoufakis as his treasury head primarily because of the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis had his own agenda that involved promoting Varoufakis's publications and experimenting with his game theories on Greece rather than truly advocating its financial survival.
He explained that those discussions to avoid insolvency were “not only a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future and the harsh cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and helped hardliners that were advocating Grexit.
The account of history has provoked fury and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
