Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as his treasury head mainly because of his global profile and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own agenda which included advancing Varoufakis's publications and experimenting with his own game theories using Greece rather than truly fighting for the country's economic stability.
Tsipras noted that the discussions to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, the country found itself dangerously on the brink of exiting the eurozone.
At stake lay both the country's destiny and those harsh austerity policies demanded in return for bailout funds by foreign lenders.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
The retelling of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
