In a newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, he selected that unorthodox academic Varoufakis to be his treasury head primarily due to his worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own agenda which included promoting his publications and experimenting with his game theories using the nation rather than truly fighting for its financial survival.
Tsipras explained how those negotiations to prevent bankruptcy were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During volatile discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay both the country's destiny but also those severe cutbacks demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
