Within his freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back as he examines that turbulent period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, he appointed that unorthodox academic Varoufakis to be his treasury head largely due to his international reputation along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis possessed his own motives that involved advancing Varoufakis's publications as well as experimenting with his own economic models using the nation rather than genuinely fighting for the country's economic stability.
He explained that the discussions to prevent insolvency became “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his economic theories.”
Critical Negotiations
Amid volatile discussions, the country found itself dangerously close to exiting the eurozone.
At stake was not only the country's future but also those harsh cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, those excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan that included creating a parallel currency and distributing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and sensitive management.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of history has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
