Within his recently unveiled autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras does not hold back as he revisits the chaotic era during Greece's financial crisis.
A Controversial Choice
In Tsipras's account, Tsipras chose the maverick academic Varoufakis to be the treasury head mainly due to the latter's global profile and his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief possessed a personal agenda which included advancing his publications and experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
He explained that the negotiations to avoid bankruptcy became “not just a way to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was not only Greece's future and the harsh austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the vote was won decisively by those against the cuts, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
He further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of events has provoked fury and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
