In a newly released autobiography, called Ithaki, the former leader Alexis Tsipras spares no criticism while he examines the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as the treasury head mainly due to the latter's worldwide fame and his highly compelling skills when it came to public orator.
“He was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives which involved promoting Varoufakis's books as well as experimenting with his own theories using Greece rather than truly fighting for its financial survival.
Tsipras explained how the talks to stave off bankruptcy became “not only a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
Amid volatile negotiations, the country came perilously close to exiting the eurozone.
On the line was both the country's destiny but also those punishing austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, the leader said he realised it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive handling.”
He also claimed how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked fury and shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
