In a freshly published autobiography, titled Ithaki, the ex- prime minister 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, Tsipras chose that maverick academic Varoufakis as his treasury head largely because of the latter's international reputation and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own motives that included advancing his publications as well as experimenting with his game theories on the nation instead of genuinely advocating its financial survival.
Tsipras explained that those discussions to avoid insolvency were “not just a way to secure improved terms for the country. They were a test, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
During tense negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay not only the country's future but also those severe austerity policies required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a public vote, an action that threw the EU into further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency as well as distributing coupons to retirees, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote how his confrontational style made him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence regarding these claims.
