Within his freshly published personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's debt drama.
A Controversial Choice
According to the ex-PM's version, he selected the maverick academic Varoufakis to be the finance minister primarily due to his worldwide fame and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief had his own agenda that involved promoting his publications as well as testing out his own theories on Greece rather than genuinely advocating the country's financial survival.
Tsipras noted how those talks to prevent insolvency became “not just a way to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
On the line was not only the country's destiny and those harsh austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the vote was won decisively by voters who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, the leader knew it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of history has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
