In a freshly published memoir, called Ithaki, the former leader Alexis Tsipras does not hold back while he examines that turbulent era during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he appointed that unorthodox economist Varoufakis to be his finance minister primarily due to his worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“He was, truthfully, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed a personal motives which involved promoting Varoufakis's books as well as experimenting with his own economic models on Greece rather than genuinely fighting for the country's financial survival.
He wrote that those discussions to prevent bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously close to exiting the single currency area.
On the line was not only the country's destiny but also those harsh cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating conditions were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate handling.”
He also claimed that his confrontational style made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
