Within his recently unveiled personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism while he revisits that turbulent period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, Tsipras appointed the unorthodox academic Varoufakis to be the treasury head primarily because of his international reputation along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed his own agenda which included advancing his publications as well as experimenting with his economic models on Greece instead of genuinely advocating the country's financial survival.
He explained how the talks to prevent insolvency became “not just a way to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During tense negotiations, Greece came dangerously close to exiting the single currency area.
On the line lay not only Greece's destiny and the harsh austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those punitive bailout terms were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself “unfit for a deal that required intricate and sensitive handling.”
He also wrote how his confrontational approach left him more and more alone among peers, endangered the country, while helped hawks who were pushing for Grexit.
The account of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
