Within his freshly published personal account, named Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on the turbulent era of Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, Tsipras selected that maverick economist Varoufakis to be the finance minister primarily because of the latter's global profile and Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how his finance chief possessed his own agenda that involved advancing his books and testing out his theories on Greece rather than genuinely advocating its economic stability.
He wrote that the talks to stave off insolvency became “not only a method of achieving a better deal for the country. They became a test, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny and those harsh cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Although the referendum was won decisively by voters against the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving creating a secondary currency and distributing vouchers to retirees, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, the author asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
