In a freshly published memoir, named Ithaki, the former leader Alexis Tsipras does not hold back as he examines the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's recollections, he selected the maverick academic Varoufakis to be the finance minister primarily because of his worldwide fame along with Varoufakis's very persuasive abilities when it came to public orator.
“He was, in reality, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives which involved advancing Varoufakis's books and testing out his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras wrote how the talks to stave off bankruptcy were “not only a method of achieving a better deal for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
On the line lay both the country's future and the severe austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were subjected to a popular referendum, a move that plunged Europe into deeper crisis of identity.
Even though the vote was won resoundingly by those against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to retirees, Tsipras knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras further claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
