Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he examines the chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's account, he selected that unorthodox academic Varoufakis as his treasury head largely due to the latter's global profile along with his very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had his own agenda which involved promoting Varoufakis's publications and experimenting with his theories on Greece instead of truly advocating the country's economic stability.
He noted that those negotiations to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously close to exiting the single currency area.
On the line lay not only Greece's future and those harsh austerity policies demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a popular referendum, an action that threw the EU into a deeper existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
He further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
This account of events has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
