Within his freshly published autobiography, called Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the maverick academic Varoufakis to be the finance minister primarily due to his international reputation along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own agenda which involved advancing his books as well as testing out his game theories using Greece instead of truly advocating its economic stability.
Tsipras wrote that those discussions to avoid bankruptcy were “not just a method of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake was not only Greece's future and the punishing austerity measures required in return for bailout funds from international creditors.
Failed Options
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, a move which plunged Europe into further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury along with shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
