In a newly released autobiography, named Ithaki, the former premier Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, he chose that unorthodox economist Varoufakis to be the finance minister primarily due to his worldwide fame along with his “extremely attractive” skills when it came to communicator.
“He was, actually, more like a star rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief possessed a personal agenda which involved promoting his publications and testing out his own game theories on Greece rather than genuinely fighting for the country's economic stability.
He explained how the negotiations to stave off insolvency were “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake was not only the country's future but also those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that threw the EU into deeper existential crisis.
Although the vote was won decisively by those against austerity, Tsipras had little option but to reject its outcome then agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate handling.”
He also claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
