In a freshly published autobiography, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that turbulent period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, he selected that maverick economist Varoufakis as his finance minister mainly because of his global profile and his very persuasive abilities as a public orator.
“He was, in reality, more of a personality and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had his own agenda that included advancing his books and experimenting with his own game theories using Greece rather than truly fighting for its economic stability.
Tsipras explained how those discussions to avoid bankruptcy became “not only a method to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was both Greece's future and those severe cutbacks required in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive conditions were put to a public vote, an action that threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
