In a freshly published memoir, called Ithaki, the former leader Alexis Tsipras does not hold back while he examines the turbulent period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he chose that maverick economist Varoufakis as the finance minister primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own motives that included promoting his books and testing out his economic models on Greece rather than genuinely fighting for its financial survival.
Tsipras wrote that the negotiations to avoid insolvency became “not just a way of achieving improved terms for the country. They were a test, an historic opportunity to prove the truth of his ideas.”
Critical Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in exchange for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Even though the vote was won decisively by those who opposed austerity, Tsipras was forced but to reject its outcome then agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding complex and delicate management.”
He further claimed how Varoufakis's confrontational approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of history has been met with fury and shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
