In a recently unveiled personal account, named Ithaki, the former premier Alexis Tsipras spares no criticism as he reflects on that chaotic period during Greece's economic turmoil.
A Controversial Appointment
As per the ex-PM's version, he chose the unorthodox economist Varoufakis to be his treasury head mainly because of his worldwide fame and his very persuasive abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed a personal agenda that involved advancing his publications and testing out his own game theories using the nation instead of genuinely advocating the country's economic stability.
Tsipras explained that the discussions to prevent bankruptcy were “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also the severe austerity measures demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were subjected to a public vote, an action that threw Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome and negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the memoir, the author asserts that his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of history has provoked anger and shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
