Within his freshly published personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back as he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, he chose that maverick academic Varoufakis as his treasury head largely due to the latter's global profile and his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis had a personal agenda which included promoting Varoufakis's publications as well as experimenting with his own theories using Greece rather than genuinely fighting for its economic stability.
Tsipras explained that those negotiations to prevent bankruptcy were “not only a method to secure improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
On the line was both Greece's destiny but also those severe austerity measures required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which plunged Europe into further crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras further wrote that his confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were advocating Grexit.
This retelling of events has been met with fury along with shock in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
