In a newly released personal account, titled Ithaki, the former prime minister Alexis Tsipras does not hold back while he examines the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras chose that maverick economist Varoufakis to be the finance minister primarily because of the latter's worldwide fame and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had a personal motives which included advancing his books as well as experimenting with his economic models using the nation instead of genuinely advocating the country's financial survival.
Tsipras explained how those negotiations to avoid bankruptcy were “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously close to exiting the single currency area.
On the line was not only Greece's destiny but also the harsh austerity measures required in return for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were put to a public vote, a move that plunged Europe into further crisis of identity.
Although the vote was carried decisively by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who graced the covers of publications the world over … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further wrote how his confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners who were pushing for a Greek exit from the euro.
The account of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
