In a newly released personal account, called Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that chaotic era of Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, Tsipras appointed the unorthodox academic Varoufakis to be the finance minister largely due to his worldwide fame and his “extremely attractive” skills when it came to communicator.
“He was, actually, more of a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that Varoufakis had a personal motives that included promoting Varoufakis's publications and experimenting with his own economic models on the nation instead of genuinely advocating its economic stability.
Tsipras explained how those discussions to avoid bankruptcy were “not only a method to secure a better deal for Greece. They became a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line was not only the country's future but also those punishing cutbacks required in return for financial aid from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly told Tsipras during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were subjected to a popular referendum, an action which plunged Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, the prime minister was forced to reject its outcome and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, the leader said he realised it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how his confrontational approach made him more and more alone among peers, endangered the country, and assisted hawks that were advocating Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
