Within his recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as his finance minister primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras claims that Varoufakis had a personal agenda that included advancing his publications as well as experimenting with his own game theories on Greece instead of truly advocating its financial survival.
He explained how those negotiations to stave off insolvency were “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both Greece's future and the harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were put to a public vote, a move that threw Europe into a further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes how his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
He also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
