Within his freshly published personal account, titled Ithaki, the former premier Alexis Tsipras pulls no punches while he examines that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras appointed that maverick academic Varoufakis as the finance minister largely because of the latter's worldwide fame and Varoufakis's very persuasive skills as a communicator.
“In reality, he was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Clashing Priorities
The former leader claims how Varoufakis had a personal agenda which included advancing Varoufakis's books and experimenting with his own game theories using Greece instead of genuinely fighting for the country's financial survival.
He wrote how those discussions to avoid bankruptcy were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake lay not only the country's future and the severe cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Even though the vote was won resoundingly by those against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
The account of events has been met with fury and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
