In a freshly published autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism while he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's account, Tsipras chose that unorthodox economist Varoufakis as his treasury head largely due to his global profile and Varoufakis's “extremely attractive” abilities when it came to public orator.
“He was, actually, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed a personal agenda which involved promoting Varoufakis's publications and testing out his own theories on Greece instead of truly fighting for its financial survival.
Tsipras explained how those negotiations to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line lay not only Greece's future and those harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action that threw Europe into a further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with fury and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
