In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis to be his finance minister largely due to his worldwide fame and Varoufakis's highly compelling skills as a communicator.
“He was, truthfully, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own agenda that included advancing Varoufakis's books as well as experimenting with his theories on Greece rather than truly fighting for its economic stability.
He wrote that those discussions to stave off bankruptcy were “not just a method to secure a better deal for the country. They became an experiment, a monumental chance to prove the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to exiting the eurozone.
At stake lay not only Greece's destiny but also those severe austerity measures demanded in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the punitive bailout terms were put to a public vote, a move that plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
