Within his freshly published autobiography, called Ithaki, the ex- premier Alexis Tsipras spares no criticism while he reflects on that turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras chose the unorthodox academic Varoufakis as his finance minister largely because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed a personal agenda that included advancing his publications as well as experimenting with his own economic models using Greece rather than truly fighting for the country's economic stability.
Tsipras wrote that the talks to avoid insolvency were “not only a way to secure improved terms for the country. They were a test, an historic opportunity to prove the validity of his theories.”
Critical Negotiations
Amid volatile discussions, the country found itself perilously close to leaving the single currency area.
At stake lay both Greece's destiny and those severe austerity policies demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move which plunged the EU into further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister was forced but to ignore the result then negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing coupons to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further claimed how his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
