In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's recollections, he chose the maverick economist Varoufakis to be the finance minister largely because of his global profile along with his highly compelling skills as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief had a personal motives which involved promoting Varoufakis's publications as well as testing out his own game theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote that those talks to avoid bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously close to leaving the single currency area.
On the line lay not only Greece's destiny but also the harsh austerity policies required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that threw Europe into a further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how his confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
