Within his recently unveiled personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back as he examines that chaotic era during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras selected the maverick academic Varoufakis to be his treasury head primarily because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that his finance chief had a personal agenda which involved promoting Varoufakis's publications and experimenting with his game theories on Greece rather than genuinely advocating its financial survival.
He wrote how the talks to avoid bankruptcy were “not just a method of achieving a better deal for Greece. They were a test, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both Greece's future and those harsh austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were subjected to a popular referendum, a move which threw the EU into deeper existential crisis.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also claimed how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for Grexit.
This account of history has provoked anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
