In a recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he chose the unorthodox academic Varoufakis as his finance minister primarily due to the latter's global profile and his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a celebrity rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had his own motives that involved advancing his books and experimenting with his own economic models using Greece instead of truly fighting for its economic stability.
He wrote that those discussions to avoid insolvency became “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, the country came dangerously close to exiting the single currency area.
On the line lay both Greece's future but also those punishing cutbacks required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were subjected to a public vote, a move which threw Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras also claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
