Within his freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed that unorthodox academic Varoufakis to be his finance minister largely due to the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to communicator.
“He was, truthfully, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal agenda which involved promoting his books and testing out his own game theories on Greece instead of truly fighting for the country's financial survival.
Tsipras noted how those discussions to prevent bankruptcy became “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line was both Greece's future but also those severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader said he realised it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
He also wrote that his aggressive style left him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating Grexit.
The account of events has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
