In a freshly published memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, Tsipras selected that unorthodox academic Varoufakis as the treasury head primarily due to his international reputation and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief possessed his own motives that included advancing Varoufakis's publications and testing out his own economic models using Greece rather than truly fighting for its economic stability.
He explained how the negotiations to prevent insolvency became “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
Amid volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was not only the country's future but also the harsh cutbacks required in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were put to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister had little option to reject its outcome then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, the leader said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive management.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for Grexit.
The account of events has provoked anger and shock in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
