In a recently unveiled autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that turbulent period of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed the maverick academic Varoufakis as the finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief possessed his own motives which involved promoting Varoufakis's publications and experimenting with his theories on Greece instead of genuinely fighting for the country's financial survival.
He explained how those discussions to stave off bankruptcy became “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay both Greece's future but also those punishing cutbacks required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal with creditors which proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
Tsipras further claimed how his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
