In a newly released autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose the maverick academic Varoufakis to be his finance minister mainly because of his worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed a personal motives which involved advancing his publications as well as testing out his own game theories on the nation rather than genuinely advocating the country's economic stability.
Tsipras noted that those discussions to avoid insolvency were “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, the country came dangerously close to leaving the single currency area.
On the line lay not only Greece's destiny but also the severe austerity measures required in return for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, a move that plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from creditors which proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing coupons to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He further wrote that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
