In a freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits that turbulent era of Greece's debt drama.
A Controversial Appointment
In Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis to be the treasury head mainly because of the latter's global profile along with his very persuasive abilities as a speaker.
“He was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief possessed his own motives that included advancing his publications as well as experimenting with his own game theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras wrote how those negotiations to prevent bankruptcy became “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself perilously close to exiting the single currency area.
At stake was not only Greece's destiny and the punishing cutbacks demanded in return for financial aid from international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action which threw Europe into further crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a bailout package from creditors that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He also claimed how his confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
