In a freshly published personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, he chose the maverick academic Varoufakis as the treasury head largely due to his worldwide fame along with his very persuasive abilities as a communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis had a personal agenda that included promoting his books as well as testing out his own economic models on Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how the negotiations to avoid insolvency were “not only a way of achieving a better deal for the country. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future and those severe austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, a move which plunged Europe into deeper crisis of identity.
Even though the referendum was won decisively by those against austerity, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also claimed that his aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
The account of history has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
