In a recently unveiled autobiography, called Ithaki, the former premier Alexis Tsipras pulls no punches while he reflects on that chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he selected the maverick academic Varoufakis as the finance minister primarily due to his international reputation and Varoufakis's highly compelling skills when it came to speaker.
“He was, truthfully, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had his own motives which included promoting his publications and experimenting with his game theories using the nation instead of genuinely fighting for its financial survival.
Tsipras wrote how the discussions to stave off insolvency became “not just a way to secure a better deal for the country. They were an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was both the country's future and the punishing cutbacks demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed how his aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
