In a recently unveiled autobiography, called Ithaki, the former premier Alexis Tsipras pulls no punches while he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis to be the finance minister largely because of his global profile along with Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had a personal agenda that involved promoting Varoufakis's books and testing out his game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how those talks to prevent insolvency were “not just a way of achieving improved terms for the country. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself perilously close to leaving the single currency area.
At stake was both the country's destiny and those severe austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a popular referendum, a move which threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal demanding complex and sensitive management.”
He also claimed how his aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners that were pushing for Grexit.
The account of events has provoked anger along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
