Within his newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, Tsipras selected the unorthodox academic Varoufakis to be the finance minister mainly because of his global profile along with his highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis had his own motives that involved advancing his publications as well as experimenting with his game theories using Greece rather than truly fighting for its financial survival.
Tsipras explained that those talks to avoid bankruptcy were “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During tense negotiations, Greece found itself perilously on the brink of exiting the single currency area.
On the line lay both the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged Europe into further existential crisis.
Even though the referendum was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
