Within his newly released personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed that maverick economist Varoufakis as the finance minister primarily due to the latter's worldwide fame along with his very persuasive skills when it came to public orator.
“In reality, he was, truthfully, more like a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed a personal agenda which included advancing his publications as well as experimenting with his own economic models using the nation instead of truly advocating its economic stability.
Tsipras wrote how those talks to prevent insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the validity of his ideas.”
Critical Talks
Amid tense negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line was not only Greece's destiny but also those harsh austerity measures required in return for bailout funds from foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a public vote, a move that plunged Europe into deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result and agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to retirees, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
He further claimed how his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
This account of history has been met with anger and shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
