Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
In Tsipras's version, he selected the maverick economist Varoufakis to be the finance minister largely because of the latter's worldwide fame along with his highly compelling abilities when it came to public orator.
“He was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal motives that involved promoting Varoufakis's books as well as testing out his economic models using Greece rather than genuinely fighting for its financial survival.
He wrote that those discussions to avoid insolvency became “not just a method to secure improved terms for the country. They became an experiment, a monumental chance to prove the validity of his ideas.”
High-Stakes Talks
During tense discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's future but also those punishing austerity measures demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were put to a public vote, a move that threw the EU into a further existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement that required complex and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This account of history has been met with anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
