In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected the maverick academic Varoufakis as the finance minister primarily because of the latter's worldwide fame along with Varoufakis's very persuasive abilities as a communicator.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief had a personal motives which involved promoting his publications as well as testing out his theories using the nation instead of genuinely fighting for its economic stability.
Tsipras wrote how those negotiations to prevent bankruptcy became “not just a method of achieving a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the single currency area.
At stake was not only the country's future but also those punishing austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action that threw Europe into a deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced to ignore the result then agree to a bailout package with foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating a Greek exit from the euro.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
