In a freshly published autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, he appointed the maverick economist Varoufakis to be his treasury head largely because of his international reputation along with his “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal agenda which included promoting Varoufakis's publications as well as testing out his theories using the nation rather than truly advocating the country's financial survival.
Tsipras wrote how those negotiations to prevent insolvency were “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was not only the country's destiny but also the harsh cutbacks demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action that plunged the EU into further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
This account of events has been met with anger and shock among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
