In a recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines that chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected the unorthodox academic Varoufakis as the finance minister primarily because of his global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more of a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal motives which included promoting his publications and experimenting with his own theories using the nation instead of genuinely fighting for the country's financial survival.
He explained that those discussions to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake lay not only the country's destiny and those harsh austerity measures required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, a move which threw Europe into deeper crisis of identity.
Although the referendum was won decisively by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This retelling of history has been met with fury and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
