Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras does not hold back as he examines that chaotic era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, Tsipras selected that maverick academic Varoufakis as the treasury head mainly due to his international reputation along with his “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives that included promoting his publications as well as experimenting with his game theories using Greece instead of genuinely advocating the country's economic stability.
He noted that the talks to stave off bankruptcy became “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During volatile discussions, the country came perilously on the brink of leaving the eurozone.
At stake lay both the country's future but also those punishing austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were put to a public vote, a move which threw Europe into further existential crisis.
Although the referendum was carried resoundingly by those against the cuts, Tsipras had little option but to reject its outcome then negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan involving creating a secondary currency and distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
The retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
