Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on that chaotic period of Greece's debt drama.
A Controversial Choice
As per the ex-PM's recollections, he selected the maverick academic Varoufakis as the finance minister mainly because of his international reputation and Varoufakis's very persuasive abilities when it came to speaker.
“He was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had a personal agenda that involved advancing Varoufakis's publications as well as testing out his theories using the nation instead of truly advocating its economic stability.
Tsipras explained that the talks to avoid bankruptcy became “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country found itself perilously close to exiting the single currency area.
On the line was not only Greece's future and those punishing austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move that plunged the EU into deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal that required complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
