Within his recently unveiled autobiography, called Ithaki, the ex- leader Alexis Tsipras does not hold back as he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he appointed the maverick academic Varoufakis as his treasury head largely because of his international reputation along with Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal motives which included promoting his books as well as testing out his own theories on Greece instead of truly fighting for its financial survival.
Tsipras noted that those discussions to prevent insolvency were “not just a method to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only Greece's destiny and those punishing austerity policies required in exchange for financial aid by international creditors.
Failed Options
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the vote was carried decisively by those who opposed the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was game over questioning him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how his former ally had proved himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with anger along with shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
