Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits the turbulent period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's version, he appointed that maverick economist Varoufakis as the finance minister largely because of the latter's international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“He was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own agenda which included advancing Varoufakis's books and testing out his own game theories on Greece instead of genuinely advocating its economic stability.
He wrote how those discussions to prevent insolvency were “not only a way to secure improved terms for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only Greece's future and those harsh austerity measures required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the referendum was carried decisively by those against austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
He also wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The retelling of events has provoked fury along with shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
