In a newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose that maverick academic Varoufakis as his finance minister primarily due to the latter's global profile and his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives which involved promoting Varoufakis's books and experimenting with his own game theories on the nation rather than genuinely fighting for its financial survival.
He wrote how the talks to stave off bankruptcy became “not just a method to secure improved terms for Greece. They became a test, a monumental chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line lay both Greece's future and the punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, an action which plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
In the book, the author asserts how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
He also wrote how Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
