In a recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he examines that chaotic era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose the maverick economist Varoufakis as the treasury head largely due to the latter's international reputation and Varoufakis's very persuasive abilities as a public orator.
“He was, in reality, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges that his finance chief possessed a personal motives that involved promoting Varoufakis's books and experimenting with his theories using the nation instead of truly advocating its economic stability.
Tsipras wrote that the talks to prevent bankruptcy were “not just a method to secure a better deal for the country. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's future and those punishing austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that plunged the EU into deeper existential crisis.
Even though the vote was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications globally … he gave the impression he relished the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
