Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, Tsipras selected the unorthodox economist Varoufakis as his finance minister mainly due to his worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal motives which involved promoting his books as well as testing out his theories using the nation instead of genuinely fighting for the country's financial survival.
He wrote that the negotiations to prevent bankruptcy became “not only a method to secure improved terms for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
On the line was both the country's future and those harsh austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras was forced to ignore the result then agree to a bailout package with creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and delicate management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
