In a newly released autobiography, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose the maverick academic Varoufakis as his finance minister primarily due to his global profile along with his very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives which included advancing his publications and testing out his economic models on the nation rather than truly advocating the country's financial survival.
He wrote how those discussions to stave off bankruptcy were “not just a way to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his economic theories.”
Critical Talks
Amid volatile discussions, the country came dangerously close to exiting the single currency area.
At stake lay not only the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a further existential crisis.
Even though the vote was won decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a bailout package with creditors which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author asserts that Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras also wrote that his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
The account of events has provoked anger and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
