In a newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, he chose the maverick academic Varoufakis as the finance minister mainly because of his international reputation and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that involved advancing Varoufakis's books and experimenting with his game theories using the nation rather than genuinely fighting for its financial survival.
He wrote that the negotiations to prevent bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also the severe cutbacks demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, the prime minister was forced to ignore the result then negotiate a rescue deal from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further wrote how his aggressive approach made him more and more alone among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
