Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that chaotic era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras chose that maverick academic Varoufakis to be the treasury head primarily due to the latter's global profile and his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis had a personal agenda which involved advancing his books and testing out his own theories using Greece rather than genuinely fighting for the country's financial survival.
He explained that the talks to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
Critical Negotiations
During tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both the country's destiny and the severe austerity policies demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
