Within his recently unveiled memoir, named Ithaki, the former leader Alexis Tsipras does not hold back while he reflects on that turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's account, he selected that maverick academic Varoufakis to be his finance minister mainly because of his global profile and his “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had a personal motives which involved advancing Varoufakis's publications and testing out his own theories using the nation instead of truly advocating its economic stability.
He wrote that the discussions to prevent bankruptcy became “not only a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, Greece came perilously close to leaving the eurozone.
On the line lay not only Greece's destiny but also the harsh cutbacks demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those punitive conditions were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters against the cuts, Tsipras was forced to ignore the result and agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed that his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
This retelling of events has been met with anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
