In a freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines the chaotic period of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's version, he chose that unorthodox academic Varoufakis to be his treasury head mainly due to the latter's international reputation and his very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives which involved promoting his publications as well as experimenting with his own theories on Greece rather than truly fighting for the country's economic stability.
Tsipras noted that the discussions to prevent bankruptcy became “not just a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's destiny but also those severe austerity policies required in exchange for bailout funds from foreign lenders.
Failed Alternatives
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras further wrote that his aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of history has provoked fury and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
