In a newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches while he reflects on that turbulent period during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he appointed the maverick economist Varoufakis to be the finance minister largely because of his worldwide fame and Varoufakis's “extremely attractive” skills as a public orator.
“He was, in reality, more of a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda that involved promoting Varoufakis's publications as well as testing out his theories on the nation rather than truly fighting for its financial survival.
Tsipras wrote how the discussions to stave off bankruptcy were “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously close to exiting the eurozone.
On the line was not only Greece's future and the punishing austerity measures demanded in return for rescue loans by foreign lenders.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action which threw Europe into a further existential crisis.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package with foreign lenders that turned out to be tougher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency and issuing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate management.”
Tsipras also wrote how his aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
