In a newly released memoir, titled Ithaki, the former leader Alexis Tsipras spares no criticism while he examines that turbulent era of Greece's economic turmoil.
A Controversial Choice
In the ex-PM's version, he selected that maverick academic Varoufakis to be the treasury head mainly because of the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal motives which included promoting Varoufakis's publications and testing out his own theories on Greece instead of truly fighting for the country's economic stability.
Tsipras wrote that the negotiations to stave off bankruptcy were “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During tense discussions, Greece came perilously on the brink of leaving the single currency area.
At stake was both the country's destiny but also the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action that plunged Europe into deeper crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also claimed that his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
