Within his newly released autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on the chaotic era of Greece's financial crisis.
A Controversial Choice
In Tsipras's version, Tsipras selected that unorthodox academic Varoufakis to be his finance minister largely due to his worldwide fame along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more like a star rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had his own motives that involved promoting Varoufakis's publications and testing out his own theories using the nation rather than genuinely advocating its economic stability.
He noted how those discussions to stave off insolvency were “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of his ideas.”
Critical Talks
During volatile negotiations, the country came dangerously close to exiting the single currency area.
At stake lay both the country's future but also the punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into further existential crisis.
Although the vote was won decisively by those who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This account of history has been met with anger and shock among certain groups, whereas the former minister has so far kept a deafening silence regarding these claims.
