Within his freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras chose the maverick economist Varoufakis as the treasury head primarily due to his global profile and his highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own motives that included advancing Varoufakis's books as well as testing out his own theories on Greece rather than truly advocating its financial survival.
Tsipras wrote that the discussions to stave off insolvency became “not only a method of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line was not only the country's destiny but also those severe austerity policies required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, an action which plunged the EU into further crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister had little option but to ignore the result then agree to a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for a deal that required intricate and delicate handling.”
He also wrote that his confrontational approach made him more and more alone with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has been met with anger and shock in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
