Within his newly released autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he selected that maverick academic Varoufakis to be his finance minister mainly due to the latter's international reputation and Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how his finance chief had his own motives that included promoting his publications as well as testing out his own game theories on the nation rather than genuinely fighting for its financial survival.
Tsipras explained how the talks to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
On the line was not only Greece's destiny but also those harsh cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of history has provoked anger along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
