In a newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras chose that maverick academic Varoufakis as the treasury head mainly because of the latter's global profile and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had his own motives which included advancing Varoufakis's publications as well as testing out his theories on Greece rather than genuinely fighting for the country's financial survival.
He wrote that the discussions to stave off insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Talks
During volatile negotiations, the country came perilously close to leaving the eurozone.
On the line was both Greece's future and the punishing austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the harsh conditions were put to a public vote, an action which plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He further claimed that his confrontational style made him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
This account of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
