Within his recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he reflects on that turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed his own motives which included advancing Varoufakis's books as well as testing out his economic models using Greece instead of truly fighting for the country's economic stability.
Tsipras explained how those discussions to prevent insolvency became “not only a method of achieving improved terms for the country. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, the country came perilously close to exiting the eurozone.
At stake was both Greece's destiny but also those harsh austerity policies demanded in return for financial aid from international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, an action that threw the EU into a further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option but to ignore the result then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, Tsipras concludes how his former ally had proved himself “unfit for an agreement that required complex and delicate handling.”
Tsipras further wrote that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger and shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
