Within his freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras selected the maverick academic Varoufakis as his finance minister primarily due to the latter's international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“He was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed a personal motives which included advancing his books as well as testing out his own economic models on Greece instead of truly advocating its financial survival.
He explained that the talks to avoid bankruptcy became “not only a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was both Greece's destiny and the harsh cutbacks required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move which plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result and negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, the author asserts that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and sensitive handling.”
He also wrote that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of history has provoked fury along with shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
