Within his freshly published personal account, named Ithaki, the ex- leader Alexis Tsipras pulls no punches while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's account, Tsipras appointed that unorthodox academic Varoufakis to be his finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis possessed a personal agenda that included promoting Varoufakis's books as well as testing out his own economic models on Greece rather than truly advocating the country's economic stability.
He noted that the discussions to avoid insolvency became “not only a method of achieving improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece came perilously on the brink of exiting the eurozone.
On the line was not only Greece's future and those harsh austerity measures demanded in return for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes how his former ally had proved himself “unfit for a deal that required complex and sensitive handling.”
He also wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of events has provoked fury and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
