In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras chose the unorthodox academic Varoufakis as the treasury head largely due to his global profile along with his highly compelling skills when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader alleges that his finance chief had a personal agenda that included promoting Varoufakis's publications as well as testing out his economic models on the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how those discussions to avoid insolvency became “not just a way to secure improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile discussions, the country came dangerously close to exiting the eurozone.
On the line lay not only the country's destiny and those harsh austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the punitive conditions were subjected to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option but to ignore the result and negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
