In a freshly published autobiography, called Ithaki, the former leader Tsipras does not hold back while he examines that chaotic period of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, he chose that unorthodox economist Varoufakis as the treasury head largely because of the latter's worldwide fame and his very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own motives that included promoting his publications and experimenting with his own game theories on the nation instead of truly advocating the country's economic stability.
Tsipras noted that the discussions to prevent bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the single currency area.
On the line was not only the country's future but also the harsh austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were subjected to a popular referendum, an action which threw Europe into further existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
