Within his freshly published memoir, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he revisits the turbulent era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister largely because of the latter's worldwide fame and his highly compelling abilities as a communicator.
“He was, actually, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that involved promoting Varoufakis's books and experimenting with his own game theories on Greece instead of genuinely advocating the country's economic stability.
He noted that those discussions to prevent bankruptcy were “not only a way to secure improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay both the country's destiny but also those punishing austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the excoriating conditions were put to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal with foreign lenders that turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
