In a freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's recollections, he selected the maverick economist Varoufakis to be his finance minister primarily due to his international reputation and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief had a personal agenda that involved advancing Varoufakis's publications and testing out his own game theories using the nation rather than truly advocating its financial survival.
He wrote that the talks to prevent bankruptcy became “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny and those harsh cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis 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 his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and distributing coupons to retirees, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate management.”
He also claimed how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hawks who were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
