In a recently unveiled autobiography, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras chose the maverick economist Varoufakis to be the treasury head largely because of the latter's international reputation and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had his own agenda which included promoting Varoufakis's publications as well as testing out his own theories on the nation instead of truly fighting for the country's financial survival.
Tsipras wrote that those discussions to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to exiting the single currency area.
On the line lay both Greece's destiny but also the harsh austerity measures demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating conditions were put to a public vote, an action which plunged the EU into further crisis of identity.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a bailout package from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive management.”
He further wrote how his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks who were advocating Grexit.
This retelling of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
