In a newly released autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back as he examines that turbulent period of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras chose that maverick economist Varoufakis to be his finance minister mainly because of his global profile and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal agenda which included advancing his books and experimenting with his game theories using Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that those discussions to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, the country came dangerously close to leaving the eurozone.
On the line was both the country's future and those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, a move that threw Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet on the matter.
