Within his recently unveiled autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected the maverick economist Varoufakis as the finance minister primarily due to the latter's international reputation along with Varoufakis's highly compelling skills as a speaker.
“He was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had a personal motives that included advancing his publications and experimenting with his own theories using Greece rather than truly advocating its economic stability.
Tsipras wrote how the negotiations to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece came perilously close to leaving the eurozone.
On the line was both Greece's future and the punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh bailout terms were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing vouchers to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the memoir, the author asserts that Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate management.”
Tsipras further claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
