In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the chaotic era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head primarily because of his international reputation along with his “extremely attractive” skills as a communicator.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that his finance chief had his own motives that involved promoting his books as well as testing out his theories on the nation instead of genuinely fighting for its financial survival.
He wrote that the discussions to prevent bankruptcy were “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay both the country's destiny and the severe austerity policies required in exchange for financial aid by international creditors.
Failed Options
Efforts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Even though the vote was carried decisively by voters against austerity, Tsipras had little option to ignore the result and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how his former ally demonstrated himself “unfit for a deal that required complex and delicate management.”
He further wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
