Within his recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism while he revisits that turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras selected the maverick academic Varoufakis to be the finance minister primarily because of the latter's international reputation and Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives which involved promoting Varoufakis's publications as well as experimenting with his own theories using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted that those talks to prevent bankruptcy were “not just a way to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to leaving the eurozone.
On the line was not only the country's destiny but also the harsh cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were put to a popular referendum, a move which plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, the prime minister was forced to reject its outcome then agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate management.”
He also claimed how his confrontational style made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
