Within his freshly published memoir, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits that turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he chose the unorthodox economist Varoufakis as his finance minister primarily because of his global profile and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, in reality, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had a personal agenda that included promoting Varoufakis's publications and testing out his own game theories on the nation rather than truly advocating the country's economic stability.
Tsipras noted how the discussions to stave off insolvency were “not just a way of achieving a better deal for the country. They became a test, a monumental chance to prove the truth of his theories.”
Critical Talks
Amid tense discussions, the country came dangerously close to exiting the eurozone.
On the line was not only Greece's destiny but also the harsh austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Attempts to secure financing from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action which plunged Europe into deeper existential crisis.
Although the referendum was carried decisively by those against austerity, Tsipras had little option but to reject its outcome then agree to a rescue deal with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of history has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
