In a newly released autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the turbulent era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras selected the unorthodox academic Varoufakis to be his treasury head largely because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had his own motives that involved promoting Varoufakis's books as well as testing out his own economic models on Greece instead of genuinely advocating the country's economic stability.
Tsipras wrote how those talks to stave off insolvency were “not just a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny and those harsh austerity measures required in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to Russia to buy Greek bonds, were rejected.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He also wrote how his aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
