In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits that chaotic period of Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's recollections, he selected that maverick academic Varoufakis to be his finance minister primarily due to the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed a personal agenda that included promoting his books and testing out his theories on Greece instead of truly advocating its financial survival.
He wrote that the talks to stave off insolvency became “not only a method of achieving improved terms for Greece. They were an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of leaving the single currency area.
On the line lay both the country's destiny and those harsh austerity policies required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how 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 front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the memoir, the author asserts how his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
