In a recently unveiled personal account, called Ithaki, the former premier Alexis Tsipras does not hold back while he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's recollections, he appointed the unorthodox economist Varoufakis as his finance minister mainly because of the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“He was, actually, more of a personality and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis possessed his own agenda that included advancing his books and testing out his own theories using Greece instead of truly fighting for its financial survival.
He wrote how those talks to stave off bankruptcy were “not just a way of achieving a better deal for the country. They became a test, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to exiting the single currency area.
On the line was both the country's future and the harsh austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh conditions were subjected to a popular referendum, an action which plunged Europe into a further crisis of identity.
Although the vote was won decisively by voters against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote how his aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
