In a newly released memoir, named Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's version, Tsipras appointed the maverick economist Varoufakis as his finance minister mainly because of the latter's worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, in reality, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal motives which included promoting Varoufakis's publications as well as testing out his economic models on the nation instead of genuinely fighting for the country's financial survival.
He wrote how those discussions to stave off insolvency were “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay both the country's destiny and those punishing austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged the EU into deeper existential crisis.
Although the vote was won decisively by voters who opposed the cuts, Tsipras had little option to ignore the result and agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts how his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and helped hardliners that were advocating a Greek exit from the euro.
This account of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
