Within his freshly published autobiography, called Ithaki, the former premier Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, he appointed the maverick academic Varoufakis to be the finance minister largely because of his worldwide fame and his highly compelling abilities when it came to communicator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed a personal motives which included advancing his books and testing out his own economic models using Greece rather than genuinely advocating the country's economic stability.
Tsipras explained how those negotiations to stave off bankruptcy were “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was not only Greece's destiny and those harsh cutbacks required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of events has provoked fury along with shock among certain groups, while the former minister has kept a deafening silence on the matter.
