In a recently unveiled personal account, called Ithaki, the former leader Alexis Tsipras does not hold back as he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, Tsipras chose that maverick academic Varoufakis to be his finance minister primarily because of his global profile along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had a personal motives that involved promoting Varoufakis's books as well as testing out his own economic models on the nation rather than genuinely advocating the country's economic stability.
He noted how those negotiations to avoid bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny and the punishing austerity measures demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, a move which threw the EU into further crisis of identity.
Although the referendum was won decisively by those who opposed austerity, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself “unfit for a deal that required complex and delicate handling.”
He also wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
