In a newly released autobiography, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, he selected the unorthodox academic Varoufakis as the treasury head mainly due to his global profile and his highly compelling skills as a public orator.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief had his own agenda which included promoting his books and testing out his game theories on Greece instead of genuinely fighting for its financial survival.
He explained that the negotiations to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
Amid tense discussions, Greece came dangerously close to leaving the eurozone.
At stake was not only Greece's future but also the harsh austerity measures demanded in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action which plunged the EU into deeper existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal from foreign lenders that proved to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally had proved himself “unfit for a deal demanding complex and delicate management.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.