Within his newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that turbulent period during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, he chose the maverick academic Varoufakis to be his finance minister primarily due to his global profile and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had a personal motives which included promoting his publications and testing out his theories on Greece instead of truly fighting for its economic stability.
Tsipras noted that those talks to avoid insolvency became “not only a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid rollercoaster discussions, the country found itself dangerously close to leaving the eurozone.
On the line lay both Greece's future and the harsh austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating conditions were subjected to a public vote, an action which plunged the EU into further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, Tsipras was forced to reject its outcome then negotiate a bailout package with creditors that proved to be tougher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency and distributing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
This account of history has provoked anger along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
