In a recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras does not hold back as he examines the turbulent era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, Tsipras selected the unorthodox academic Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis had a personal motives which involved advancing his books as well as experimenting with his own game theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras explained that those discussions to avoid bankruptcy were “not only a way to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his theories.”
Critical Talks
During volatile negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay both Greece's future and those severe austerity policies required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into a further crisis of identity.
Although the vote was carried decisively by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
