In a recently unveiled personal account, called Ithaki, the ex- premier Alexis Tsipras does not hold back as he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he selected that maverick economist Varoufakis as his treasury head largely due to the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that involved advancing his books and testing out his theories using Greece instead of genuinely advocating its economic stability.
He wrote how those talks to prevent bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, Greece came perilously close to leaving the eurozone.
On the line lay not only Greece's future and the severe austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks that were pushing for Grexit.
The retelling of events has provoked anger along with shock among certain groups, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
