Within his newly released personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that chaotic era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras selected that unorthodox economist Varoufakis as the treasury head mainly due to his worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own motives which included promoting his publications as well as testing out his economic models on the nation instead of genuinely fighting for the country's economic stability.
He explained how the talks to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the single currency area.
On the line lay not only Greece's future but also the punishing austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that threw Europe into further crisis of identity.
Although the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, the leader knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
