Within his freshly published autobiography, called Ithaki, the former premier Alexis Tsipras does not hold back as he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he appointed that unorthodox academic Varoufakis as his finance minister primarily due to the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis possessed a personal agenda which included advancing Varoufakis's publications as well as experimenting with his own game theories on the nation rather than genuinely fighting for the country's financial survival.
Tsipras noted that those negotiations to avoid insolvency became “not only a method to secure improved terms for the country. They became an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line was both the country's destiny but also those severe austerity policies required in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package with creditors which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
