Within his freshly published personal account, named Ithaki, the former leader Alexis Tsipras pulls no punches while he reflects on the chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he chose the maverick academic Varoufakis to be his treasury head largely because of his international reputation along with his “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had a personal agenda that included advancing his publications as well as testing out his game theories using Greece rather than truly advocating the country's economic stability.
Tsipras explained how those negotiations to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only Greece's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the referendum was won decisively by voters against austerity, the prime minister was forced but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unsuitable for an agreement that required complex and delicate management.”
He also wrote that his aggressive style made him more and more alone with colleagues, endangered the country, and helped hawks that were advocating Grexit.
The retelling of events has provoked anger and shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
