In a recently unveiled autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines that turbulent period of Greece's financial crisis.
A Controversial Choice
As per Tsipras's account, Tsipras appointed the maverick academic Varoufakis to be the finance minister mainly due to his global profile and his “extremely attractive” abilities when it came to speaker.
“He was, actually, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed a personal agenda which involved promoting his books as well as experimenting with his own game theories on the nation rather than truly advocating the country's economic stability.
Tsipras explained how those negotiations to avoid insolvency were “not just a method to secure improved terms for the country. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Negotiations
During tense negotiations, the country came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's destiny but also the severe austerity policies required in exchange for financial aid from international creditors.
Failed Options
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how his confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were pushing for Grexit.
This retelling of events has provoked fury and shock in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
