In a recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, he appointed that maverick academic Varoufakis as the finance minister mainly due to his worldwide fame along with his very persuasive abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed a personal motives which involved advancing his books as well as experimenting with his own game theories using Greece instead of genuinely advocating its economic stability.
He explained that the negotiations to stave off bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to exiting the eurozone.
On the line was both the country's destiny and those severe cutbacks required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a public vote, a move which threw the EU into further existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The retelling of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
