Within his recently unveiled autobiography, named Ithaki, the former prime minister Alexis Tsipras pulls no punches while he examines the turbulent period of Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, Tsipras selected the maverick economist Varoufakis as his finance minister mainly due to his worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more like a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis had his own motives that included advancing Varoufakis's books and testing out his economic models on Greece rather than genuinely advocating the country's financial survival.
Tsipras explained how the discussions to stave off bankruptcy were “not only a method of achieving improved terms for Greece. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny but also the severe cutbacks demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then agree to a bailout package with creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
Tsipras also claimed how his confrontational approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of events has been met with fury and shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
