In a recently unveiled personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches as he reflects on that chaotic era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick academic Varoufakis as the finance minister largely because of his international reputation and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief possessed his own agenda that involved promoting Varoufakis's publications as well as testing out his own theories using Greece instead of truly fighting for its economic stability.
Tsipras explained how the discussions to avoid insolvency became “not only a method to secure improved terms for Greece. They became a test, an historic chance to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's future and the severe cutbacks demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that threw the EU into a further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
Tsipras further claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners who were pushing for Grexit.
This account of events has been met with anger along with shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
