Within his freshly published autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back while he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's recollections, he appointed that maverick economist Varoufakis as his treasury head primarily because of the latter's global profile along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had his own motives which involved promoting Varoufakis's books as well as testing out his own economic models using Greece rather than truly fighting for the country's economic stability.
He explained how the discussions to stave off bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's destiny but also the harsh cutbacks demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, an action which threw the EU into a deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
