In a recently unveiled personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches as he reflects on that turbulent era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed that unorthodox academic Varoufakis as his finance minister primarily due to the latter's global profile and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal agenda which included promoting Varoufakis's books and experimenting with his theories using the nation rather than truly fighting for its economic stability.
He noted how the negotiations to stave off insolvency were “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only Greece's destiny and those harsh austerity measures required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move that threw Europe into a further existential crisis.
Although the vote was won resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of events has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
