Within his recently unveiled autobiography, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the chaotic period during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, he selected that maverick economist Varoufakis to be his treasury head primarily due to the latter's international reputation and his highly compelling skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal agenda that included promoting Varoufakis's publications and testing out his own game theories on the nation instead of truly fighting for the country's financial survival.
He explained that those talks to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, Greece came dangerously close to exiting the single currency area.
On the line lay not only Greece's future but also those severe cutbacks required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to secure funds from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the vote was won decisively by those against the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
