In a freshly published personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he selected the maverick academic Varoufakis as his treasury head primarily due to his international reputation along with Varoufakis's highly compelling skills when it came to communicator.
“In reality, he was, truthfully, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had his own agenda that included promoting his publications as well as experimenting with his own economic models using the nation instead of truly advocating its financial survival.
Tsipras explained that the discussions to avoid bankruptcy became “not only a method to secure a better deal for the country. They became an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the eurozone.
On the line lay not only the country's destiny but also those punishing austerity policies required in exchange for financial aid from foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those harsh conditions were put to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the vote was won decisively by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed how his aggressive style made him more and more alone among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
