In a freshly published personal account, titled Ithaki, the former leader Alexis Tsipras does not hold back as he revisits that turbulent period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick academic Varoufakis to be the finance minister primarily because of his international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“He was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed his own motives which included promoting Varoufakis's publications and experimenting with his own game theories on Greece instead of truly fighting for its financial survival.
Tsipras noted that those talks to prevent bankruptcy were “not just a method of achieving improved terms for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Talks
During tense negotiations, the country came perilously on the brink of exiting the eurozone.
At stake was not only Greece's future and the punishing austerity measures required in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the front pages of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
