In a freshly published autobiography, titled Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, he appointed that unorthodox economist Varoufakis to be his treasury head primarily because of the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis had his own agenda which included promoting his books and testing out his theories using the nation instead of truly fighting for the country's economic stability.
Tsipras noted that those discussions to avoid insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both Greece's future and those harsh austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the vote was won resoundingly by voters against austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
He further claimed how Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
