In a recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's account, he chose that maverick economist Varoufakis as the finance minister mainly due to the latter's worldwide fame along with his very persuasive abilities as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda which included advancing Varoufakis's publications and testing out his own game theories using Greece rather than genuinely advocating its financial survival.
He noted that the discussions to prevent bankruptcy became “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously close to exiting the single currency area.
At stake lay not only the country's destiny and those punishing cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to find funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw Europe into deeper crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further wrote how his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
This account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
