Within his newly released autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he examines that chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he selected the unorthodox academic Varoufakis to be his finance minister mainly due to the latter's worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives that included promoting his books as well as experimenting with his theories on Greece instead of truly fighting for the country's economic stability.
He explained that the talks to stave off insolvency were “not only a method to secure a better deal for Greece. They became a test, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid volatile discussions, Greece found itself perilously close to exiting the eurozone.
On the line was both the country's future but also the punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
