Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be his finance minister largely due to his global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed a personal motives which included promoting Varoufakis's publications and experimenting with his own game theories on the nation instead of truly advocating its financial survival.
Tsipras noted that the negotiations to stave off insolvency were “not only a way to secure a better deal for Greece. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay not only the country's future and the severe austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks that were advocating Grexit.
The retelling of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
