In a freshly published autobiography, named Ithaki, the former leader Alexis Tsipras does not hold back as he revisits that chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis to be his finance minister largely due to his international reputation along with Varoufakis's very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims how Varoufakis possessed a personal agenda which involved advancing his books and experimenting with his own theories on the nation instead of genuinely advocating its financial survival.
Tsipras noted that those negotiations to prevent insolvency were “not only a way of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's future and the severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that threw the EU into a further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts how Varoufakis had proved himself “unfit for an agreement demanding complex and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners who were pushing for Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
