In a newly released autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, he selected that maverick economist Varoufakis as the treasury head largely due to the latter's global profile along with Varoufakis's very persuasive abilities when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own agenda that involved promoting his publications and experimenting with his own economic models on the nation instead of genuinely fighting for its economic stability.
Tsipras explained that those negotiations to avoid bankruptcy were “not just a method of achieving a better deal for the country. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself dangerously close to exiting the single currency area.
At stake was not only the country's destiny and those severe austerity measures required in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
