Within his freshly published memoir, titled Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on that chaotic era during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's recollections, Tsipras selected that maverick economist Varoufakis as the treasury head mainly due to his international reputation along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had a personal agenda which included advancing his books as well as experimenting with his game theories using Greece instead of truly advocating its economic stability.
He noted that the negotiations to prevent bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During tense discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny but also the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, an action which threw the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras further claimed that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
