Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he chose the maverick academic Varoufakis to be his treasury head largely due to his global profile and his highly compelling abilities as a speaker.
“In reality, he was, actually, more of a personality and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed his own motives that involved promoting his books and testing out his own game theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras noted that those talks to avoid bankruptcy were “not just a method to secure improved terms for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself dangerously close to exiting the single currency area.
At stake was both Greece's destiny and those punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
He further claimed that his aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
This account of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
