In a freshly published memoir, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he appointed that maverick academic Varoufakis to be the treasury head mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a star rather than an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had a personal motives which included advancing Varoufakis's publications as well as testing out his game theories using Greece rather than genuinely advocating its financial survival.
Tsipras explained how those discussions to stave off insolvency became “not just a method to secure a better deal for the country. They became a test, a monumental chance to prove the validity of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself perilously on the brink of exiting the eurozone.
On the line lay not only Greece's destiny and the harsh cutbacks required in return for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, the harsh bailout terms were put to a public vote, an action which threw the EU into a further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors which turned out to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for an agreement demanding complex and delicate management.”
He further claimed that his confrontational style left him more and more alone among peers, endangered the country, while helped hawks that were advocating Grexit.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
