Within his recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, he appointed the maverick academic Varoufakis to be his treasury head largely because of his international reputation along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda which involved promoting Varoufakis's publications as well as testing out his economic models on Greece rather than genuinely fighting for the country's financial survival.
He noted that the talks to prevent insolvency were “not only a way to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
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 harsh austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result then agree to a bailout package with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further claimed that his confrontational approach left him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
