In a freshly published memoir, titled Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic period of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, he selected the unorthodox economist Varoufakis to be his finance minister largely because of his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how Varoufakis possessed his own agenda that included advancing Varoufakis's publications and testing out his theories using the nation instead of truly advocating the country's economic stability.
Tsipras noted how those discussions to stave off bankruptcy became “not just a way to secure a better deal for the country. They became a test, a monumental chance to prove the validity of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously close to exiting the eurozone.
On the line was not only the country's destiny but also those severe austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh conditions were subjected to a public vote, a move that threw the EU into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package from creditors which turned out to be even harsher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was game over questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate handling.”
Tsipras further claimed how his aggressive approach made him more and more alone among peers, endangered the country, and helped hardliners who were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
