In a freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he chose that unorthodox academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis possessed a personal agenda that involved advancing Varoufakis's books as well as experimenting with his economic models on the nation rather than truly fighting for its financial survival.
He wrote that the talks to avoid insolvency were “not only a method of achieving a better deal for Greece. They became a test, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously close to exiting the eurozone.
On the line lay both the country's destiny and the harsh austerity measures required in exchange for financial aid from international creditors.
Failed Options
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the vote was won resoundingly by voters against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for Grexit.
The retelling of events has provoked anger and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
