In a freshly published autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits that chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis as the treasury head primarily due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda that included advancing Varoufakis's publications as well as testing out his theories on Greece rather than genuinely fighting for its financial survival.
Tsipras noted how those discussions to avoid bankruptcy became “not just a way of achieving improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
On the line was both Greece's future and those severe austerity measures required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
That summer, the punitive conditions were put to a popular referendum, a move which threw the EU into deeper existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author asserts how his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet regarding these claims.
