Within his recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis as his treasury head mainly because of his worldwide fame and Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives which involved advancing his publications and testing out his economic models on the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained that those negotiations to stave off insolvency became “not just a method to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake lay both Greece's future and the harsh austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to find financing elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
The account of history has been met with anger along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet on the matter.
