Within his freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he selected that unorthodox economist Varoufakis as the finance minister primarily due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis had a personal motives which involved promoting Varoufakis's books and testing out his game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how the negotiations to avoid insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was both the country's future but also the punishing austerity policies required in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move that threw Europe into a further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
After the minister proposed a contingency plan that included creating a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes that his former ally had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He also claimed that his confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
