Within his freshly published memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, Tsipras chose that unorthodox economist Varoufakis to be the finance minister mainly because of his international reputation along with his very persuasive skills when it came to speaker.
“He was, in reality, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal motives which included promoting his books and experimenting with his game theories using the nation instead of truly fighting for its economic stability.
Tsipras explained that those negotiations to stave off bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line was both Greece's future and the punishing austerity policies required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which plunged the EU into further existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and issuing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
