Within his recently unveiled autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he examines the chaotic era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, Tsipras appointed that maverick economist Varoufakis to be his treasury head largely due to his international reputation and Varoufakis's highly compelling skills as a speaker.
“He was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own agenda that included advancing his books and testing out his theories using the nation instead of truly advocating its financial survival.
Tsipras explained that the talks to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of his economic theories.”
Critical Talks
Amid tense discussions, the country came dangerously close to leaving the eurozone.
On the line lay not only Greece's destiny but also those harsh austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action which threw the EU into a deeper existential crisis.
Even though the vote was won decisively by those who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further wrote that his aggressive style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of history has provoked anger and shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
