In a freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's account, Tsipras appointed that maverick economist Varoufakis to be the finance minister mainly because of his global profile and his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more of a star and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that his finance chief had a personal motives which included advancing Varoufakis's publications and testing out his own theories on the nation instead of truly fighting for its financial survival.
He noted that the discussions to prevent bankruptcy became “not just a method to secure a better deal for the country. They were an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also the severe cutbacks demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency as well as distributing coupons to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author asserts how his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
The retelling of events has provoked fury and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
