In a freshly published personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits that chaotic era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's recollections, he appointed that maverick academic Varoufakis to be his finance minister primarily because of the latter's worldwide fame and his highly compelling skills when it came to public orator.
“He was, in reality, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis had his own agenda which involved advancing Varoufakis's publications and testing out his economic models on Greece rather than truly fighting for its economic stability.
He wrote that those discussions to avoid bankruptcy were “not only a way to secure improved terms for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny and the severe cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that plunged Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and issuing vouchers to retirees, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, the author asserts how his former ally had proved himself “unfit for a deal that required complex and delicate management.”
Tsipras further claimed how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
