In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits the turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, he appointed the unorthodox economist Varoufakis to be his finance minister largely because of his international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that Varoufakis possessed a personal motives that involved promoting Varoufakis's publications and experimenting with his game theories using Greece instead of genuinely fighting for the country's financial survival.
He wrote that those discussions to avoid insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of his economic theories.”
Critical Talks
Amid tense negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line was both the country's destiny and those punishing austerity measures required in return for financial aid by international creditors.
Failed Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were subjected to a public vote, an action which threw Europe into further crisis of identity.
Although the referendum was won decisively by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
