In a newly released memoir, named Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he appointed that maverick economist Varoufakis as the treasury head largely due to his international reputation along with his highly compelling abilities as a communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed his own motives which included promoting Varoufakis's publications and experimenting with his own game theories on Greece instead of genuinely fighting for its economic stability.
He wrote that the discussions to stave off bankruptcy were “not just a method to secure improved terms for the country. They became an experiment, an historic chance to prove the truth of his economic theories.”
High-Stakes Talks
During tense discussions, the country found itself dangerously close to leaving the single currency area.
At stake was both the country's future and the harsh cutbacks required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by those against austerity, the prime minister was forced but to reject its outcome and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
The account of events has provoked fury and shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
