In a freshly published personal account, titled Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be the treasury head primarily because of his global profile along with his very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
The former leader suggests that his finance chief possessed his own motives which included advancing Varoufakis's publications as well as testing out his theories on the nation instead of truly advocating the country's financial survival.
Tsipras explained how those talks to avoid bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
During volatile discussions, the country found itself perilously close to exiting the eurozone.
At stake was both the country's future but also the punishing cutbacks required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Although the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of history has provoked fury and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
