In a freshly published memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he appointed that maverick academic Varoufakis as the finance minister primarily because of his global profile and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed a personal motives which included promoting Varoufakis's publications and experimenting with his theories on Greece rather than genuinely fighting for the country's financial survival.
Tsipras explained how those negotiations to stave off bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece came perilously close to leaving the single currency area.
At stake was not only the country's destiny and those punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which plunged the EU into further crisis of identity.
Although the vote was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further claimed that his aggressive approach left him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
