In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that chaotic era of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed that maverick academic Varoufakis to be his finance minister largely because of his international reputation along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed his own agenda which included advancing Varoufakis's books as well as testing out his own theories on the nation instead of truly fighting for its financial survival.
Tsipras noted how those discussions to stave off bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's future but also the harsh austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by voters against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from creditors which turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, and helped hardliners who were advocating Grexit.
The retelling of history has provoked anger along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
