Within his recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras chose the unorthodox economist Varoufakis as the finance minister largely because of the latter's international reputation along with his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own agenda that included advancing Varoufakis's books as well as testing out his own theories using the nation instead of genuinely advocating the country's financial survival.
He wrote how the discussions to stave off insolvency were “not just a way of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Talks
During tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was both the country's future but also the harsh austerity measures demanded in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister had little option but to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Enduring Criticism
In the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further claimed how his aggressive style made him more and more alone among peers, endangered the country, and assisted hawks who were pushing for Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
