In a recently unveiled memoir, called Ithaki, the former prime minister Alexis Tsipras spares no criticism as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, he appointed the unorthodox economist Varoufakis as his finance minister mainly due to the latter's worldwide fame and his very persuasive skills as a public orator.
“In reality, he was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which involved advancing Varoufakis's books as well as testing out his economic models on the nation rather than truly advocating the country's financial survival.
He explained that the discussions to prevent insolvency were “not only a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid tense discussions, the country came perilously close to exiting the eurozone.
At stake lay not only the country's future and those severe austerity measures required in return for rescue loans by foreign lenders.
Failed Options
Efforts to secure funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a public vote, a move which plunged the EU into further existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how his aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of events has been met with anger and shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
