Within his freshly published autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back as he examines that chaotic period during Greece's financial crisis.
A Controversial Choice
As per Tsipras's recollections, Tsipras appointed the maverick economist Varoufakis to be the treasury head mainly due to the latter's global profile and his highly compelling skills when it came to public orator.
“He was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal motives that involved promoting Varoufakis's publications as well as testing out his own economic models on the nation rather than truly advocating the country's financial survival.
He explained how those talks to avoid insolvency became “not only a method of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country found itself perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also the severe austerity measures demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, a move that plunged Europe into further existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself “unfit for an agreement demanding intricate and delicate management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of history has been met with fury along with shock among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
