In a freshly published autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be his finance minister primarily due to his international reputation and Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis had a personal motives that included advancing Varoufakis's books and experimenting with his own economic models on the nation rather than truly fighting for its economic stability.
Tsipras explained that those negotiations to prevent bankruptcy were “not only a way of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
During tense discussions, Greece found itself perilously close to leaving the eurozone.
On the line lay both Greece's destiny and the punishing austerity policies required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Even though the vote was carried decisively by those against austerity, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
