In a freshly published personal account, called Ithaki, the former premier Alexis Tsipras pulls no punches as he revisits that turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he appointed the maverick economist Varoufakis to be the finance minister mainly because of his worldwide fame along with his “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a star and less of an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had his own agenda that included advancing his publications as well as testing out his economic models on the nation rather than truly advocating the country's financial survival.
Tsipras explained that those negotiations to avoid bankruptcy were “not only a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During tense negotiations, the country came perilously on the brink of leaving the eurozone.
At stake lay both Greece's destiny and the severe cutbacks required in exchange for bailout funds by international creditors.
Failed Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were put to a public vote, an action which threw the EU into a further crisis of identity.
Although the vote was won resoundingly by voters who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required complex and sensitive handling.”
He also wrote that his aggressive style made him more and more alone with colleagues, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
