Within his freshly published memoir, titled Ithaki, the ex- premier Alexis Tsipras does not hold back as he reflects on the chaotic period of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, he chose that unorthodox academic Varoufakis as his finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims that his finance chief possessed a personal motives which involved promoting Varoufakis's publications and testing out his game theories on the nation instead of truly advocating its financial survival.
He explained how those talks to avoid bankruptcy were “not only a way of achieving a better deal for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Talks
During tense negotiations, the country came dangerously close to exiting the single currency area.
At stake was both the country's destiny and the severe austerity measures required in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result then agree to a bailout package with creditors that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and helped hawks that were advocating Grexit.
This retelling of history has provoked anger and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
