In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras selected the unorthodox economist Varoufakis as his finance minister mainly because of his global profile and his highly compelling skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives that involved advancing his books as well as testing out his economic models using Greece instead of truly advocating its economic stability.
Tsipras noted that the discussions to prevent bankruptcy were “not only a way to secure improved terms for the country. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, the country came dangerously close to exiting the single currency area.
On the line lay not only the country's future but also those severe austerity policies required in return for financial aid from international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move that threw Europe into further crisis of identity.
Although the referendum was won decisively by those against austerity, Tsipras had little option to ignore the result and agree to a bailout package with creditors which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
