Within his freshly published personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, he selected that maverick economist Varoufakis as the treasury head largely because of the latter's global profile and his “extremely attractive” skills when it came to public orator.
“He was, actually, more like a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how his finance chief possessed a personal motives which involved promoting his publications as well as testing out his economic models using Greece instead of genuinely advocating its financial survival.
Tsipras wrote that those talks to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only Greece's destiny but also those harsh cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and Reversal
That summer, those harsh conditions were put to a popular referendum, an action that threw the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result and negotiate a bailout package with creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes that his former ally demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
He further claimed that Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
