In a freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
According to the ex-PM's recollections, he appointed that unorthodox economist Varoufakis to be his treasury head mainly due to his global profile and his very persuasive abilities as a speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had a personal agenda that involved advancing his books as well as testing out his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras noted that the discussions to avoid insolvency became “not just a method to secure a better deal for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, Greece found itself perilously on the brink of leaving the single currency area.
On the line was both the country's destiny and the severe austerity measures required in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were put to a popular referendum, an action that threw the EU into further existential crisis.
Although the referendum was won resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
