Within his freshly published memoir, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he chose that unorthodox academic Varoufakis to be the treasury head mainly because of the latter's international reputation and his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal motives that involved promoting Varoufakis's publications as well as experimenting with his economic models using the nation rather than genuinely advocating the country's financial survival.
He wrote how the discussions to stave off insolvency were “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was both Greece's destiny but also the punishing austerity policies required in return for financial aid by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action that threw Europe into a deeper existential crisis.
Although the vote was carried resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote how his confrontational style left him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of history has provoked anger and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
