Within his newly released autobiography, titled Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, he appointed that maverick academic Varoufakis to be the finance minister primarily due to his worldwide fame and Varoufakis's highly compelling skills as a public orator.
“He was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal motives that included advancing his publications and testing out his own theories on the nation instead of genuinely fighting for its economic stability.
He wrote that those negotiations to stave off bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line was not only Greece's destiny and those punishing cutbacks demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a public vote, an action that plunged the EU into further existential crisis.
Although the vote was carried decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a bailout package from creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how his aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with anger along with shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
