Within his freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras spares no criticism while he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's version, he selected the maverick academic Varoufakis to be the finance minister mainly due to his international reputation and his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras claims how Varoufakis possessed a personal motives that involved advancing his publications and testing out his economic models using Greece instead of truly advocating the country's financial survival.
Tsipras noted how those negotiations to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid tense negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny and those harsh austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
Tsipras also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This account of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence on the matter.
