In a recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that turbulent era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, he selected that maverick academic Varoufakis as the finance minister primarily because of his international reputation and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his own theories using the nation rather than genuinely advocating its economic stability.
Tsipras noted how those negotiations to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself perilously close to exiting the single currency area.
On the line was both the country's future but also the severe cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Efforts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, a move that threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury along with shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
