In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected that maverick economist Varoufakis to be the finance minister primarily because of his worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more of a star and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed his own agenda which involved promoting his books and testing out his own game theories on Greece instead of genuinely fighting for its financial survival.
Tsipras wrote how those talks to prevent insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those harsh austerity measures demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
He further wrote how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
This account of events has been met with anger along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
