In a recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, Tsipras chose the unorthodox academic Varoufakis as his treasury head largely because of his international reputation along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda which included promoting Varoufakis's publications as well as experimenting with his own game theories using the nation rather than truly advocating its economic stability.
He noted that the discussions to avoid bankruptcy were “not just a way of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line was both the country's future but also those severe cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which threw Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal from creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
