Within his 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.
An Unconventional Choice
According to Tsipras's version, Tsipras chose the unorthodox economist Yanis Varoufakis to be the treasury head mainly due to his global profile along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had his own motives that included promoting his books as well as testing out his own theories on Greece instead of genuinely fighting for the country's financial survival.
He wrote how the discussions to stave off insolvency became “not just a way of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
At stake was not only Greece's future and those punishing austerity policies demanded in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action that plunged the EU into deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
