Within his recently unveiled autobiography, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's recollections, he appointed that unorthodox academic Varoufakis to be his finance minister primarily because of the latter's global profile along with his very persuasive abilities when it came to communicator.
“He was, truthfully, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed a personal motives which involved promoting Varoufakis's publications as well as experimenting with his own theories on the nation rather than truly advocating its economic stability.
He explained that the discussions to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's future but also those severe cutbacks required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into a further crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the book, the author concludes that his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate management.”
Tsipras further claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
