In a recently unveiled personal account, called Ithaki, the ex- prime minister Alexis Tsipras does not hold back while he reflects on the chaotic period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, he appointed the unorthodox academic Varoufakis as the treasury head largely because of his global profile along with his highly compelling abilities when it came to speaker.
“He was, actually, more of a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis possessed his own motives which involved advancing his books and experimenting with his own theories on Greece instead of genuinely fighting for the country's financial survival.
He wrote that the negotiations to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, Greece found itself perilously close to leaving the eurozone.
On the line was both the country's future but also those punishing austerity measures required in return for bailout funds from international creditors.
Failed Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the harsh conditions were subjected to a public vote, a move that threw the EU into a deeper existential crisis.
Even though the vote was carried decisively by those against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package from creditors that turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
He also claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
