Within his freshly published personal account, named Ithaki, the former leader Alexis Tsipras spares no criticism as he examines the chaotic era of Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's recollections, he chose the maverick academic Varoufakis as his treasury head mainly because of the latter's international reputation along with Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief had his own agenda that involved promoting his books as well as experimenting with his own economic models using Greece instead of genuinely advocating its economic stability.
Tsipras noted that those negotiations to avoid insolvency were “not just a method of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, the country came dangerously on the brink of exiting the eurozone.
At stake lay not only the country's future but also the severe austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the harsh conditions were put to a public vote, an action that plunged Europe into further existential crisis.
Although the vote was won resoundingly by voters against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
He also claimed how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has maintained a deafening silence on the matter.
