Within his freshly published autobiography, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits the turbulent period during Greece's debt drama.
An Unconventional Appointment
According to Tsipras's account, he appointed the maverick academic Varoufakis to be the treasury head mainly because of his international reputation along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives which included promoting Varoufakis's publications and testing out his own game theories on the nation rather than genuinely fighting for the country's economic stability.
He noted that the discussions to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During tense discussions, the country found itself perilously close to exiting the eurozone.
At stake lay both the country's future and those harsh austerity policies required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to find financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required complex and sensitive management.”
He also claimed how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
The account of history has provoked anger and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
