Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits the chaotic era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras chose the unorthodox economist Varoufakis to be his finance minister primarily due to his international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal agenda that involved advancing his publications and experimenting with his own game theories using Greece rather than truly advocating its financial survival.
Tsipras wrote how the negotiations to avoid bankruptcy became “not only a way to secure improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, the country came perilously on the brink of leaving the eurozone.
At stake was both the country's future but also the severe cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move that threw the EU into a further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed how his confrontational approach made him increasingly isolated among peers, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
