In a recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on that turbulent period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he chose the maverick economist Varoufakis to be the treasury head primarily because of his international reputation along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had his own agenda that involved advancing Varoufakis's publications and experimenting with his game theories using the nation instead of truly advocating the country's financial survival.
Tsipras wrote that those negotiations to prevent insolvency were “not only a way to secure improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
During tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also those punishing austerity policies required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into further existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister was forced to ignore the result and negotiate a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He further claimed how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger along with shock in some quarters, while the former minister has so far kept a deafening silence on the matter.
