Within his freshly published memoir, titled Ithaki, the former premier Alexis Tsipras does not hold back while he revisits the turbulent era of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose the unorthodox academic Varoufakis to be his finance minister largely because of the latter's worldwide fame and his highly compelling abilities when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal motives that included advancing Varoufakis's publications and testing out his economic models using the nation instead of genuinely advocating the country's financial survival.
He wrote how those talks to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny and those severe austerity policies demanded in return for financial aid by international creditors.
Failed Options
Attempts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was won decisively by voters against austerity, the prime minister had little option 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 his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger along with shock in some quarters, while Varoufakis has so far kept a deafening silence on the matter.
