In a newly released autobiography, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the unorthodox economist Varoufakis as his treasury head primarily because of the latter's global profile along with Varoufakis's very persuasive skills when it came to public orator.
“He was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis had his own motives that involved promoting his publications and testing out his own game theories on the nation instead of truly fighting for its financial survival.
Tsipras explained that the talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster discussions, Greece came perilously on the brink of exiting the eurozone.
At stake was not only the country's destiny and the severe austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, an action which threw Europe into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
He further claimed how his aggressive approach left him more and more alone among peers, endangered the country, and assisted hardliners who were advocating Grexit.
The account of history has provoked anger along with shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
