In a freshly published personal account, titled Ithaki, the ex- premier Alexis Tsipras pulls no punches as he reflects on the turbulent period during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, he selected the maverick economist Varoufakis as the treasury head primarily because of his worldwide fame and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had a personal motives which involved advancing his publications as well as testing out his theories using Greece instead of genuinely advocating the country's financial survival.
He wrote that those talks to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay not only the country's destiny and those punishing cutbacks required in exchange for financial aid by international creditors.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the excoriating conditions were put to a public vote, a move that threw the EU into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote that his aggressive approach left him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
This account of events has been met with anger along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence regarding these claims.
