Within his freshly published personal account, called Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on the chaotic era during Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, Tsipras appointed that unorthodox economist Varoufakis to be the finance minister largely due to his global profile and his “extremely attractive” abilities when it came to public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal agenda which involved advancing his publications and experimenting with his own theories using the nation instead of truly fighting for the country's economic stability.
Tsipras explained that the talks to prevent insolvency became “not only a way to secure a better deal for Greece. They became a test, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only Greece's destiny but also the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the punitive bailout terms were put to a public vote, an action which threw the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then agree to a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis had proved himself to be “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
