In a newly released autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, Tsipras selected that maverick economist Varoufakis as his treasury head largely due to his global profile and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had a personal motives which included promoting his books and testing out his own game theories on Greece instead of truly advocating its financial survival.
Tsipras noted how those talks to stave off bankruptcy were “not only a way to secure a better deal for the country. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny and those severe cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
That summer, the harsh conditions were put to a popular referendum, a move that plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and issuing coupons to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He further wrote that his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has been met with fury along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
