In a recently unveiled autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis as the treasury head mainly because of the latter's international reputation and his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had his own agenda which involved promoting Varoufakis's publications and experimenting with his own economic models using the nation instead of truly fighting for its financial survival.
He explained that those negotiations to prevent insolvency became “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both the country's destiny and those punishing austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Although the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
