Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he chose that unorthodox academic Varoufakis as his treasury head largely because of his worldwide fame and Varoufakis's highly compelling skills when it came to communicator.
“He was, in reality, more like a celebrity and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own motives which included advancing his publications as well as testing out his theories using Greece instead of truly fighting for its financial survival.
Tsipras wrote how those talks to stave off insolvency became “not only a way to secure a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line was not only the country's future and the severe austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were put to a popular referendum, an action that threw the EU into deeper crisis of identity.
Even though the vote was won decisively by those against austerity, the prime minister had little option but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding complex and sensitive management.”
He also claimed how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
