Within his freshly published autobiography, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on the chaotic era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's account, Tsipras appointed the maverick economist Varoufakis to be the finance minister mainly due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had a personal agenda which included advancing his publications as well as experimenting with his own economic models using Greece rather than truly advocating the country's economic stability.
He wrote how the discussions to prevent insolvency became “not only a method of achieving improved terms for Greece. They became a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
During volatile discussions, Greece came dangerously on the brink of exiting the eurozone.
At stake was not only the country's future but also the severe austerity measures required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a public vote, a move which plunged Europe into a deeper existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then negotiate a bailout package from creditors which proved to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement that required complex and sensitive management.”
He further claimed that his confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
