In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras chose the maverick academic Varoufakis to be the treasury head primarily because of his global profile along with Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more like a personality rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis possessed his own motives that involved advancing Varoufakis's books and experimenting with his game theories using Greece rather than truly fighting for its economic stability.
Tsipras explained that the talks to avoid bankruptcy became “not only a way of achieving improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line lay both the country's future and those punishing austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive conditions were subjected to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the vote was carried decisively by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate handling.”
He also wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of events has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence on the matter.
