In a newly released memoir, called Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, he appointed the maverick economist Varoufakis as his finance minister largely due to his worldwide fame along with his highly compelling abilities when it came to public orator.
“He was, truthfully, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda that included advancing his publications as well as experimenting with his economic models using Greece instead of genuinely fighting for its economic stability.
Tsipras noted that the talks to avoid insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the validity of his ideas.”
Critical Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and those harsh austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a bailout package from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for a deal demanding complex and sensitive handling.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating Grexit.
This account of events has been met with fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
