In a freshly published personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he reflects on that chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he chose the unorthodox academic Varoufakis as his finance minister largely because of the latter's worldwide fame along with his very persuasive skills when it came to communicator.
“He was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed a personal motives which involved advancing his books as well as experimenting with his own economic models on the nation rather than truly fighting for its financial survival.
He noted that those discussions to stave off insolvency became “not just a method to secure a better deal for the country. They became a test, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay both Greece's future but also the punishing austerity measures demanded in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action that plunged the EU into further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
This account of events has been met with fury along with shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
