Within his newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he examines the chaotic era of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose that unorthodox economist Varoufakis to be his treasury head mainly due to the latter's international reputation along with his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief possessed his own motives that involved promoting his publications as well as testing out his own game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that the discussions to stave off bankruptcy became “not just a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense negotiations, the country came perilously close to leaving the single currency area.
At stake lay both Greece's future but also the punishing austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by those against austerity, the prime minister had little option to ignore the result then agree to a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
