Within his freshly published personal account, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he examines that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed that unorthodox economist Varoufakis as his treasury head primarily because of his global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how Varoufakis possessed his own motives that involved advancing Varoufakis's publications and experimenting with his economic models using Greece rather than truly fighting for its economic stability.
Tsipras explained that the negotiations to avoid insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During volatile negotiations, the country came dangerously close to exiting the eurozone.
At stake lay not only Greece's future and those harsh austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a public vote, a move which threw Europe into deeper existential crisis.
Although the vote was won decisively by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew it was the end and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis had proved himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that his confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The account of events has provoked anger along with shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
