Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose the maverick economist Varoufakis to be his finance minister largely due to the latter's worldwide fame along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how his finance chief possessed a personal motives that included advancing his publications as well as testing out his own economic models on the nation rather than truly advocating its economic stability.
He explained how the negotiations to stave off bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously close to exiting the eurozone.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal that required intricate and sensitive management.”
He also wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
