Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, he appointed the maverick economist Varoufakis to be his finance minister primarily because of his global profile and his “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis had a personal motives that included advancing his publications and testing out his own theories on the nation instead of genuinely advocating the country's economic stability.
Tsipras explained that those negotiations to prevent insolvency became “not just a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the validity of his theories.”
High-Stakes Talks
Amid tense discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was not only Greece's destiny but also the harsh cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action which threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by those against the cuts, Tsipras was forced but to ignore the result then agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
He further claimed that his aggressive style left him more and more alone with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
