Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
In Tsipras's account, Tsipras selected that maverick economist Varoufakis to be the finance minister mainly due to his global profile and his “extremely attractive” abilities as a speaker.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal motives which included promoting his books and experimenting with his economic models using Greece rather than truly advocating the country's financial survival.
Tsipras wrote how those talks to prevent insolvency became “not just a way to secure a better deal for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, the country came dangerously on the brink of leaving the eurozone.
At stake was both the country's future and the severe cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
The account of history has been met with anger along with shock among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
