Within his freshly published autobiography, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected the unorthodox academic Varoufakis to be the finance minister primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own motives that involved advancing his publications and experimenting with his own economic models using Greece rather than genuinely fighting for its financial survival.
Tsipras wrote that the negotiations to prevent insolvency became “not only a way to secure improved terms for Greece. They became an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid volatile discussions, the country came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future but also the punishing cutbacks required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a public vote, an action that threw the EU into a further existential crisis.
Although the referendum was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over questioning him: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
This retelling of history has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
