In a newly released autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on the turbulent period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis as his treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed a personal agenda which involved promoting Varoufakis's books as well as testing out his own economic models using the nation instead of genuinely fighting for its economic stability.
He noted how the talks to avoid insolvency were “not only a way of achieving improved terms for the country. They were a test, an historic chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself perilously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the harsh cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which threw Europe into further crisis of identity.
Although the referendum was won resoundingly by those against the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement that required intricate and delicate management.”
He also claimed how his aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating a Greek exit from the euro.
This account of history has been met with anger along with shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
