Within his recently unveiled autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his treasury head mainly because of the latter's global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as experimenting with his theories using the nation instead of truly advocating the country's financial survival.
He explained how those negotiations to stave off insolvency were “not only a method to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of his theories.”
High-Stakes Talks
During volatile discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both the country's future and those harsh cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, an action that plunged Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
He also claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of events has been met with fury along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
