Within his freshly published autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he examines the chaotic period of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he selected that unorthodox economist Varoufakis to be the finance minister primarily because of his worldwide fame and his highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had a personal motives that involved advancing Varoufakis's books and experimenting with his game theories using Greece instead of genuinely fighting for its economic stability.
He explained how the talks to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was not only Greece's destiny and the harsh austerity measures required in return for financial aid by international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw the EU into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to reject its outcome and agree to a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for Grexit.
This retelling of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
