Within his freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, he appointed that maverick economist Varoufakis as the finance minister largely because of his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, truthfully, more of a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal agenda that included advancing Varoufakis's publications as well as experimenting with his economic models on the nation instead of truly advocating the country's economic stability.
Tsipras wrote that those talks to avoid bankruptcy became “not just a way of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, Greece came perilously on the brink of leaving the eurozone.
At stake was not only the country's future but also the punishing austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the punitive bailout terms were put to a public vote, a move which threw Europe into a deeper existential crisis.
Although the vote was carried decisively by voters against austerity, the prime minister was forced to ignore the result then negotiate a bailout package with creditors that proved to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further claimed that his confrontational style made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far kept a conspicuous quiet on the matter.
