Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, he selected that unorthodox academic Varoufakis to be the treasury head primarily because of the latter's international reputation along with his highly compelling abilities when it came to public orator.
“He was, in reality, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal agenda that included advancing Varoufakis's books and experimenting with his own theories using Greece instead of truly advocating the country's economic stability.
He noted that those discussions to stave off bankruptcy became “not only a way to secure improved terms for the country. They became an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
During volatile negotiations, the country came dangerously close to leaving the eurozone.
At stake lay both the country's destiny but also those harsh austerity measures demanded in return for financial aid by foreign lenders.
Failed Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, a move that threw Europe into a further existential crisis.
Although the referendum was won decisively by those who opposed austerity, Tsipras had little option but to reject its outcome and agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
He further wrote that his confrontational style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
