Within his recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, he appointed that unorthodox economist Varoufakis to be his treasury head largely because of his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, in reality, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had a personal motives that included advancing his books and testing out his economic models on Greece instead of genuinely fighting for its financial survival.
Tsipras explained that those talks to stave off insolvency became “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to prove the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came dangerously close to leaving the eurozone.
At stake lay not only Greece's destiny and those punishing austerity policies required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister had little option but to ignore the result and negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also claimed how his confrontational style made him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has been met with anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
