In a recently unveiled memoir, named Ithaki, the former premier Alexis Tsipras does not hold back while he reflects on that chaotic period of Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he chose that unorthodox academic Varoufakis as the finance minister primarily because of the latter's international reputation and his “extremely attractive” skills as a communicator.
“He was, truthfully, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own agenda which involved promoting Varoufakis's books as well as experimenting with his game theories using the nation rather than truly advocating its financial survival.
Tsipras noted that the discussions to prevent insolvency became “not just a way to secure a better deal for Greece. They became a test, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay both the country's destiny and those punishing austerity measures required in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters against the cuts, the prime minister was forced to ignore the result and agree to a bailout package with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet regarding these claims.
