Within his newly released autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the turbulent era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, he chose the maverick economist Varoufakis to be the treasury head mainly due to the latter's worldwide fame along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda that included promoting Varoufakis's publications as well as experimenting with his game theories on the nation instead of truly advocating the country's economic stability.
He explained that those negotiations to prevent insolvency were “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and the severe austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the harsh conditions were subjected to a popular referendum, a move which threw Europe into deeper existential crisis.
Although the vote was carried resoundingly by voters against austerity, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes how his former ally had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
