In a newly released autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis to be the finance minister mainly because of his global profile and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, actually, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had a personal motives which involved advancing Varoufakis's books as well as experimenting with his game theories on Greece rather than genuinely fighting for its economic stability.
Tsipras noted how the discussions to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was not only the country's destiny but also the harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, a move that threw Europe into further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement that required complex and sensitive management.”
He also wrote how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of events has provoked fury and shock in some quarters, while the former minister has maintained a deafening silence on the matter.
