Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits that turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he selected that maverick academic Varoufakis as the finance minister primarily due to his global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives that involved promoting Varoufakis's books as well as testing out his economic models using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted how those discussions to prevent bankruptcy became “not just a way of achieving a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny and the harsh cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, a move which threw Europe into further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
This account of events has provoked anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
