Within his newly released autobiography, titled Ithaki, the former leader Alexis Tsipras does not hold back as he examines the chaotic period of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as the finance minister mainly because of the latter's worldwide fame and his very persuasive abilities as a public orator.
“In reality, he was, in reality, more like a personality and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own agenda that involved advancing his books and experimenting with his theories on the nation instead of truly fighting for the country's financial survival.
He wrote how those negotiations to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake lay not only Greece's future but also those punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for a deal demanding intricate and delicate management.”
He further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks that were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
