In a newly released personal account, named Ithaki, the ex- prime minister Alexis Tsipras pulls no punches while he reflects on that chaotic era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras appointed the unorthodox academic Varoufakis to be the finance minister largely due to the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, in reality, more like a personality rather than an economist,” wrote Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal motives that included advancing Varoufakis's books and experimenting with his theories using Greece rather than genuinely advocating its economic stability.
He explained how those talks to prevent bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny but also the punishing cutbacks required in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Referendum and U-Turn
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal that required complex and delicate handling.”
He further claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of events has been met with anger along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
