Within his newly released personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's account, Tsipras chose that unorthodox economist Varoufakis as the treasury head largely due to the latter's worldwide fame along with his “extremely attractive” skills as a communicator.
“He was, in reality, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief had his own motives that involved advancing Varoufakis's books as well as experimenting with his own game theories using Greece instead of truly advocating its financial survival.
Tsipras explained that the discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They became a test, an historic chance to demonstrate the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay both the country's future and those harsh austerity policies demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw Europe into further existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The account of history has been met with fury and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
