Within his newly released autobiography, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines the chaotic era during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, he chose the unorthodox economist Varoufakis as his finance minister largely due to the latter's international reputation along with his highly compelling skills as a communicator.
“He was, actually, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader claims that his finance chief had a personal motives which included advancing Varoufakis's books and experimenting with his own economic models using the nation rather than genuinely advocating its financial survival.
Tsipras explained how those negotiations to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
Amid tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also the punishing austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action that plunged Europe into a further crisis of identity.
Even though the vote was carried decisively by voters against austerity, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself “unfit for an agreement demanding intricate and delicate handling.”
He also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
