In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he selected the unorthodox economist Varoufakis to be his finance minister largely because of his worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis had his own agenda that included advancing Varoufakis's books as well as testing out his game theories using the nation rather than genuinely advocating its economic stability.
Tsipras noted that those discussions to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only Greece's future and the severe austerity measures demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author asserts how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
Tsipras further wrote that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of events has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
