Within his newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, Tsipras selected that maverick academic Varoufakis as the treasury head largely due to his global profile and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis had a personal motives that involved promoting his books and experimenting with his own economic models using the nation instead of genuinely advocating the country's financial survival.
He noted that those discussions to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
During tense discussions, Greece came perilously close to leaving the single currency area.
On the line was both the country's future and those punishing austerity policies required in return for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a public vote, an action which threw Europe into further crisis of identity.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally demonstrated himself “unfit for a deal that required intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has been met with fury and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
