Within his freshly published memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, Tsipras selected that maverick economist Varoufakis as his treasury head primarily because of his international reputation along with Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief had his own motives which included promoting Varoufakis's publications and experimenting with his own theories on Greece instead of genuinely advocating its financial survival.
He noted that the talks to stave off insolvency became “not just a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the eurozone.
On the line was both Greece's destiny but also the severe austerity policies required in exchange for financial aid from international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a public vote, a move which plunged the EU into a further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He also wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
