In a freshly published autobiography, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's debt drama.
A Controversial Choice
In Tsipras's account, he selected the unorthodox economist Varoufakis to be his treasury head mainly because of the latter's global profile along with Varoufakis's highly compelling skills when it came to speaker.
“He was, in reality, more of a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own agenda which included promoting his publications and experimenting with his own game theories on Greece rather than genuinely fighting for its economic stability.
Tsipras explained that those negotiations to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, the country came perilously close to exiting the eurozone.
At stake lay both the country's destiny but also those severe austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, including a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action which threw Europe into deeper existential crisis.
Although the vote was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He also wrote how his aggressive approach made him more and more alone among peers, endangered the country, and helped hawks who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
