Within his newly released autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, he chose the maverick academic Varoufakis as his treasury head largely because of the latter's international reputation along with his highly compelling skills as a public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own motives which included advancing Varoufakis's books as well as testing out his own game theories on Greece rather than truly fighting for its financial survival.
Tsipras explained how the negotiations to avoid insolvency were “not only a way to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay not only the country's destiny and those punishing austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move which threw Europe into further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts how Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
