Within his recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, he selected that unorthodox economist Varoufakis as his treasury head largely due to the latter's worldwide fame and his highly compelling abilities when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief had a personal motives which involved advancing Varoufakis's books and experimenting with his game theories using Greece instead of truly advocating the country's financial survival.
Tsipras wrote that those talks to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny but also the punishing austerity policies demanded in exchange for rescue loans from international creditors.
Failed Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw Europe into further crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He also wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
