Within his recently unveiled personal account, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he selected that unorthodox economist Varoufakis to be his finance minister mainly because of his global profile along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis had his own agenda that included promoting his publications as well as experimenting with his theories using the nation rather than genuinely advocating the country's economic stability.
He noted that the discussions to avoid bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only Greece's future and the punishing cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
That summer, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked anger along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
