Within his recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines that chaotic period during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, he appointed that maverick economist Varoufakis as his treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive skills as a communicator.
“He was, in reality, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal motives which involved advancing Varoufakis's publications and experimenting with his game theories using the nation instead of genuinely advocating the country's financial survival.
He wrote how those discussions to avoid insolvency were “not just a method to secure improved terms for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously close to exiting the eurozone.
On the line lay both Greece's destiny but also those punishing austerity policies required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action which threw the EU into a further existential crisis.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of history has provoked fury along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
