In a newly released personal account, called Ithaki, the former leader Alexis Tsipras spares no criticism as he examines that chaotic period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected that unorthodox academic Varoufakis as his finance minister mainly because of his global profile and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, actually, more like a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that his finance chief possessed his own agenda that included promoting his books and testing out his own theories using Greece rather than truly fighting for its economic stability.
He noted how the talks to avoid bankruptcy were “not only a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
Amid tense discussions, Greece came perilously close to exiting the single currency area.
On the line lay not only the country's destiny but also the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh conditions were subjected to a public vote, a move that threw the EU into a deeper crisis of identity.
Although the vote was carried decisively by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
