Within his newly released memoir, called Ithaki, the former leader Alexis Tsipras pulls no punches while he examines the turbulent era during Greece's debt drama.
An Unconventional Choice
According to Tsipras's recollections, he appointed that unorthodox academic Varoufakis as the finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief had his own agenda which involved promoting his books as well as testing out his game theories using Greece rather than genuinely advocating the country's financial survival.
Tsipras wrote that the negotiations to prevent bankruptcy became “not only a method to secure improved terms for the country. They became a test, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both the country's future and those harsh cutbacks demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
