In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he selected the unorthodox academic Varoufakis as the finance minister largely due to the latter's global profile along with his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had his own motives that involved promoting his books and experimenting with his game theories on Greece instead of genuinely fighting for its economic stability.
He noted that those negotiations to avoid insolvency became “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay both Greece's future and the harsh cutbacks demanded in exchange for financial aid by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote how his confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of events has provoked anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
