Within his freshly published autobiography, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines that turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as the treasury head largely due to his worldwide fame along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how his finance chief had his own motives which involved advancing his publications and experimenting with his game theories using Greece instead of truly fighting for its economic stability.
Tsipras wrote that those talks to stave off insolvency were “not just a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line lay both Greece's destiny but also the punishing austerity policies required in exchange for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those harsh bailout terms were put to a public vote, an action that plunged the EU into further existential crisis.
Although the vote was won decisively by voters against austerity, the prime minister had little option but to ignore the result and agree to a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes that Varoufakis had proved himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
