In a newly released personal account, named Ithaki, the former prime minister Alexis Tsipras spares no criticism while he examines the turbulent period during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he chose that maverick economist Varoufakis to be the finance minister largely due to the latter's international reputation and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed his own agenda that included promoting his publications and testing out his economic models on the nation rather than genuinely advocating the country's financial survival.
He noted how the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Talks
Amid volatile discussions, the country came dangerously close to leaving the eurozone.
On the line lay not only the country's future but also the punishing austerity policies required in exchange for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and Reversal
That summer, the harsh bailout terms were put to a popular referendum, a move which threw Europe into further existential crisis.
Although the vote was won decisively by voters against the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts that his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for Grexit.
The retelling of history has provoked fury along with shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
