In a newly released personal account, named Ithaki, the ex- premier Alexis Tsipras pulls no punches while he revisits the chaotic period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head largely because of the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own motives that involved advancing his books as well as testing out his own theories using the nation instead of truly advocating the country's economic stability.
Tsipras noted how those discussions to prevent insolvency became “not just a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
During tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's future but also the harsh cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, an action which threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
He further claimed how Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The account of events has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
