In a recently unveiled autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis as his treasury head primarily due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief had his own motives that involved promoting Varoufakis's publications and testing out his own economic models using the nation rather than truly fighting for the country's financial survival.
He noted how those discussions to avoid insolvency were “not just a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to leaving the single currency area.
At stake was both Greece's future but also the punishing cutbacks demanded in return for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those excoriating bailout terms were put to a public vote, a move that plunged Europe into a further crisis of identity.
Even though the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result and negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for a deal that required intricate and delicate handling.”
He further wrote how Varoufakis's confrontational style left him more and more alone among peers, put Greece at risk, and helped hawks who were pushing for Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
