Within his newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected that maverick economist Varoufakis as the finance minister largely due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda that involved promoting his books as well as experimenting with his own economic models on the nation instead of genuinely advocating the country's financial survival.
He explained how those talks to prevent insolvency were “not just a method to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay both the country's future but also those severe austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package with creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has kept a deafening silence on the matter.
