In a freshly published autobiography, called Ithaki, the former premier Alexis Tsipras does not hold back as he examines that chaotic period during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he chose that unorthodox economist Varoufakis to be his finance minister mainly due to his international reputation along with his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own agenda which involved promoting his books as well as experimenting with his economic models on the nation instead of genuinely fighting for its economic stability.
He explained that the negotiations to avoid bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile discussions, the country came perilously on the brink of exiting the single currency area.
On the line lay not only Greece's destiny but also the punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action that threw Europe into further crisis of identity.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
