In a freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back while he reflects on the chaotic period during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis as the treasury head primarily due to the latter's global profile and his “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed a personal agenda which included advancing Varoufakis's books as well as testing out his economic models using Greece instead of genuinely advocating its economic stability.
He wrote that the negotiations to prevent insolvency became “not just a method of achieving improved terms for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
At stake lay not only the country's destiny but also those harsh cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, an action that threw the EU into a further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and assisted hawks that were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
