Within his recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head largely due to the latter's global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal motives that included advancing his books and testing out his game theories on the nation rather than truly advocating the country's financial survival.
Tsipras wrote how the talks to prevent insolvency were “not just a method of achieving improved terms for the country. They were a test, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's future and those harsh austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
He also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
This retelling of events has been met with anger along with shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
