In a recently unveiled autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras selected that unorthodox academic Varoufakis to be the finance minister mainly due to his worldwide fame and his very persuasive skills as a speaker.
“In reality, he was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims that Varoufakis possessed his own motives which included promoting his books as well as experimenting with his game theories on the nation instead of genuinely fighting for its financial survival.
Tsipras noted that those talks to avoid bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay both Greece's destiny and those severe austerity measures required in return for rescue loans by foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result and agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating Grexit.
This account of events has provoked anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
