In a recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on that chaotic era during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis to be his finance minister largely because of the latter's worldwide fame along with his highly compelling abilities as a communicator.
“In reality, he was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal motives which involved promoting Varoufakis's books and testing out his economic models on the nation instead of genuinely fighting for its financial survival.
He noted that the talks to avoid bankruptcy were “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line was both Greece's destiny but also the punishing austerity policies required in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action that threw Europe into further crisis of identity.
Even though the vote was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal with foreign lenders which proved to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding complex and delicate management.”
Tsipras also wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
