In a recently unveiled autobiography, called Ithaki, the ex- prime minister Alexis Tsipras pulls no punches as he reflects on the turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected the unorthodox academic Varoufakis as the finance minister mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief had a personal agenda that involved advancing Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras noted that those discussions to stave off insolvency became “not only a method to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line lay not only the country's future and the punishing austerity measures required in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, the punitive conditions were subjected to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as distributing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal that required intricate and delicate management.”
He also claimed that his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were advocating Grexit.
This account of history has provoked anger and shock among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
