In a newly released memoir, named Ithaki, the former leader Alexis Tsipras spares no criticism while he reflects on that turbulent period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, he selected the unorthodox academic Varoufakis as the treasury head mainly due to the latter's international reputation and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal motives which involved promoting Varoufakis's publications as well as testing out his theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras noted how the talks to prevent insolvency became “not just a way to secure a better deal for the country. They became a test, an historic chance to prove the truth of his ideas.”
Critical Negotiations
During tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line lay both the country's future and those punishing austerity policies required in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action which threw the EU into further crisis of identity.
Even though the referendum was won decisively by voters against austerity, Tsipras was forced but to reject its outcome and negotiate a bailout package with foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and sensitive management.”
He further claimed that his confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
The account of events has provoked anger and shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
