In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism while he examines the turbulent period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, he selected that maverick economist Varoufakis to be the treasury head largely due to the latter's global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal motives that involved advancing Varoufakis's publications and experimenting with his game theories using Greece instead of genuinely fighting for its financial survival.
He wrote how the negotiations to prevent bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of his ideas.”
High-Stakes Negotiations
During tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
At stake was not only the country's destiny and those severe austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those excoriating conditions were put to a public vote, a move that plunged Europe into further existential crisis.
Although the referendum was carried decisively by voters against austerity, the prime minister had little option to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
He further claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
