In a freshly published autobiography, titled Ithaki, the ex- leader Alexis Tsipras spares no criticism as he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, Tsipras selected that maverick academic Varoufakis to be the finance minister mainly due to the latter's worldwide fame along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives that included promoting his books as well as testing out his theories using the nation rather than truly advocating its financial survival.
Tsipras wrote that those discussions to avoid insolvency were “not just a method to secure improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny and those harsh austerity policies required in exchange for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, an action which threw the EU into a further existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
