Within his freshly published personal account, titled Ithaki, the former premier Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's account, Tsipras selected that unorthodox academic Varoufakis as the treasury head largely due to the latter's worldwide fame along with his very persuasive abilities as a public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed his own agenda that involved advancing his publications and experimenting with his economic models on Greece instead of genuinely fighting for the country's financial survival.
Tsipras wrote that the discussions to prevent bankruptcy were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line was not only Greece's destiny and those severe austerity policies required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras further wrote how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with fury and shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.
