Within his newly released autobiography, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he appointed that unorthodox economist Varoufakis as the treasury head largely because of his international reputation and his “extremely attractive” abilities as a communicator.
“He was, actually, more of a celebrity and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis had his own motives that involved advancing Varoufakis's publications and testing out his economic models on the nation rather than truly advocating the country's financial survival.
Tsipras wrote that the discussions to stave off insolvency became “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
On the line lay both the country's future and those harsh austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw the EU into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister had little option to ignore the result then agree to a rescue deal from creditors which proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote how his aggressive style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
