In a recently unveiled autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose that unorthodox academic Varoufakis as his finance minister largely due to his worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal agenda which included promoting his publications as well as testing out his own game theories on Greece rather than genuinely advocating the country's financial survival.
He explained that the talks to avoid insolvency were “not only a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was not only Greece's future but also the severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a popular referendum, an action which threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors which turned out to be tougher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and issuing coupons to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate management.”
He further wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This retelling of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
