In a newly released autobiography, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he examines the turbulent period during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he chose that maverick academic Varoufakis to be his finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief had a personal motives that included promoting Varoufakis's publications and testing out his economic models on the nation instead of genuinely advocating its financial survival.
Tsipras explained how the talks to stave off insolvency were “not just a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During volatile negotiations, the country came dangerously close to leaving the eurozone.
On the line lay both the country's future but also those severe austerity measures required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras also wrote that his confrontational style left him increasingly isolated among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This account of history has been met with fury along with shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
