Within his freshly published autobiography, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits that turbulent period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, he selected the unorthodox economist Varoufakis as the finance minister mainly due to his international reputation and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own agenda which included promoting Varoufakis's books as well as experimenting with his economic models using the nation rather than truly fighting for its economic stability.
He wrote that those discussions to stave off bankruptcy were “not just a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and the severe austerity measures required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and sensitive handling.”
He further wrote that his confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
This account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
