Within his freshly published personal account, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras selected that maverick academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame and Varoufakis's “extremely attractive” abilities as a public orator.
“He was, in reality, more of a celebrity rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that his finance chief possessed a personal motives which included advancing his books as well as testing out his own economic models on the nation instead of genuinely advocating the country's financial survival.
Tsipras noted how those discussions to avoid bankruptcy became “not just a method to secure improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During rollercoaster negotiations, Greece came perilously close to exiting the eurozone.
On the line was both the country's destiny and those harsh cutbacks required in return for financial aid from international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were subjected to a popular referendum, an action which plunged the EU into a further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and negotiate a rescue deal with creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
He further wrote how his confrontational approach left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
