In a newly released personal account, called Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he selected the maverick economist Varoufakis to be the finance minister largely due to the latter's worldwide fame along with Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis had his own motives which involved advancing his books and experimenting with his own economic models using Greece instead of truly advocating the country's economic stability.
Tsipras noted that the discussions to prevent bankruptcy were “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the validity of his theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
On the line lay both Greece's future but also the severe austerity policies required in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating conditions were subjected to a public vote, an action that threw the EU into a deeper existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal from foreign lenders which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving establishing a parallel currency and distributing coupons to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required complex and delicate management.”
He also claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
This retelling of history has been met with anger along with shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
