In a recently unveiled autobiography, called Ithaki, the former leader Alexis Tsipras does not hold back as he examines the chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he selected that maverick academic Varoufakis to be the treasury head largely because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own motives which involved promoting Varoufakis's books as well as testing out his own theories using Greece rather than genuinely advocating its financial survival.
He wrote that those discussions to avoid bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile discussions, Greece came perilously on the brink of exiting the single currency area.
On the line lay not only the country's future but also those harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, a move that plunged the EU into a further crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
This retelling of history has provoked fury along with shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
