Within his freshly published personal account, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, he appointed the maverick academic Varoufakis as his finance minister mainly due to his global profile along with his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief had a personal motives which involved promoting his books and testing out his theories using the nation instead of genuinely advocating its financial survival.
He explained that those talks to stave off bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, Greece came dangerously close to exiting the eurozone.
On the line was both the country's destiny but also the punishing cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive management.”
He also wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
