In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the chaotic era during Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, he appointed the unorthodox academic Varoufakis as his finance minister largely due to the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal agenda that included advancing his publications as well as testing out his economic models using Greece rather than genuinely fighting for its economic stability.
Tsipras explained that the discussions to stave off bankruptcy became “not only a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came dangerously close to exiting the eurozone.
At stake was both Greece's future but also the harsh austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those punitive conditions were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Even though the referendum was carried decisively by voters against austerity, Tsipras had little option but to reject its outcome then negotiate a rescue deal with creditors which proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He further claimed how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
