Within his recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras pulls no punches as he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he chose that unorthodox academic Varoufakis to be his treasury head mainly because of the latter's worldwide fame along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief had a personal motives that involved promoting Varoufakis's publications and testing out his game theories on the nation instead of truly fighting for its financial survival.
Tsipras wrote how the negotiations to avoid insolvency became “not only a method of achieving a better deal for the country. They became a test, a monumental opportunity to prove the validity of his ideas.”
High-Stakes Talks
During volatile negotiations, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's destiny and the severe cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating conditions were put to a popular referendum, an action which threw Europe into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and distributing coupons to pensioners, the leader knew it was game over and asked him: “Are you serious?”
Enduring Rebuke
Within the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
The retelling of events has provoked fury and shock in some quarters, while the former minister has kept a deafening silence on the matter.
