In a newly released autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he selected that maverick academic Varoufakis to be the treasury head primarily because of his international reputation along with his very persuasive skills as a communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own motives that involved promoting his books as well as experimenting with his theories using Greece rather than truly advocating its economic stability.
He noted how those talks to stave off bankruptcy became “not only a method to secure improved terms for the country. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also the severe austerity measures required in exchange for rescue loans from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, 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 is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He further claimed how his aggressive style left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
The account of events has been met with fury and shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
