In a freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits the chaotic period of Greece's debt drama.
An Unconventional Choice
In Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be his finance minister primarily because of his worldwide fame along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how his finance chief possessed a personal motives that involved promoting Varoufakis's publications and experimenting with his own game theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote how those talks to prevent bankruptcy became “not only a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile discussions, the country found itself dangerously close to leaving the eurozone.
On the line was not only Greece's destiny and those harsh austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw Europe into a deeper existential crisis.
Even though the vote was carried decisively by voters against austerity, the prime minister had little option to ignore the result and agree to a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
