Within his freshly published memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his treasury head primarily because of his international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests how his finance chief possessed his own agenda which involved promoting Varoufakis's publications as well as experimenting with his own game theories on the nation instead of truly fighting for its financial survival.
Tsipras explained that the negotiations to avoid bankruptcy were “not only a way to secure a better deal for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny but also those harsh cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh bailout terms were put to a public vote, a move that plunged the EU into a further crisis of identity.
Although the vote was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has maintained a deafening silence on the matter.
