Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, he chose that maverick academic Varoufakis to be his treasury head primarily due to the latter's global profile and his “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own motives which involved advancing Varoufakis's publications as well as experimenting with his theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras wrote how the talks to avoid insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and the severe austerity policies required in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a public vote, a move that plunged the EU into a further crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
