Within his newly released memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he revisits the turbulent period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, he chose the maverick economist Varoufakis to be the finance minister largely because of his global profile along with Varoufakis's very persuasive abilities as a speaker.
“He was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal agenda which included advancing Varoufakis's publications as well as testing out his own theories on the nation rather than truly advocating the country's economic stability.
Tsipras wrote how those talks to prevent bankruptcy were “not only a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only the country's destiny and those harsh austerity measures required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
He further claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
