In a newly released autobiography, named Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he revisits the chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he appointed that unorthodox economist Varoufakis to be the treasury head primarily because of the latter's worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“He was, actually, more like a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had a personal motives which involved advancing Varoufakis's publications as well as testing out his own game theories using the nation rather than genuinely fighting for its economic stability.
He noted how the talks to avoid bankruptcy were “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his theories.”
High-Stakes Talks
During volatile discussions, Greece came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's destiny but also the severe austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a public vote, a move that threw the EU into a further existential crisis.
Although the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
