In a freshly published autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis to be his treasury head mainly because of the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal agenda that included advancing his publications and experimenting with his economic models using the nation instead of genuinely fighting for the country's financial survival.
Tsipras explained how those negotiations to stave off bankruptcy became “not only a method of achieving improved terms for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay not only the country's destiny and those severe austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Even though the referendum was won decisively by those against austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He further wrote that his confrontational style made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of events has been met with anger along with shock among certain groups, whereas Varoufakis has so far kept a deafening silence on the matter.
