In a newly released autobiography, named Ithaki, the former leader Alexis Tsipras pulls no punches as he examines the turbulent era of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he chose that maverick economist Varoufakis to be the finance minister primarily due to the latter's global profile along with his very persuasive skills when it came to public orator.
“He was, truthfully, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed a personal motives that included promoting Varoufakis's publications and testing out his own game theories on the nation rather than truly advocating the country's financial survival.
He explained how those negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During tense discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny but also the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those harsh bailout terms were put to a popular referendum, an action that threw the EU into further existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced to ignore the result and agree to a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of history has provoked anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
