Within his recently unveiled autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that turbulent period of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he appointed the maverick academic Varoufakis as the finance minister primarily due to his worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own motives that involved advancing Varoufakis's books and experimenting with his own game theories on the nation instead of genuinely fighting for its financial survival.
He noted that the negotiations to avoid insolvency became “not just a method to secure improved terms for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece came dangerously close to exiting the eurozone.
At stake was not only Greece's future but also those severe cutbacks required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, an action which threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks who were advocating Grexit.
This retelling of history has been met with anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
