Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he appointed that maverick academic Varoufakis to be his finance minister mainly due to the latter's international reputation and his highly compelling skills as a speaker.
“In reality, he was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief had a personal agenda which involved promoting his books as well as experimenting with his game theories on the nation rather than truly fighting for its financial survival.
He explained how the talks to stave off insolvency became “not only a way to secure a better deal for the country. They were a test, an historic chance to prove the validity of his economic theories.”
Critical Talks
During tense discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the harsh cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those punitive conditions were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also wrote how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
