Within his newly released memoir, titled Ithaki, the ex- leader Alexis Tsipras does not hold back while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis as the finance minister largely due to the latter's worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, actually, more of a star rather than an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives which included advancing his publications as well as testing out his own economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote that the talks to avoid bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, a monumental chance to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the single currency area.
On the line was both the country's future but also the severe austerity measures required in return for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result and agree to a bailout package with creditors which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
