Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras pulls no punches as he examines that turbulent period during Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras appointed that maverick economist Varoufakis as the treasury head largely due to his global profile and his very persuasive abilities as a communicator.
“In reality, he was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own agenda which included advancing Varoufakis's books and experimenting with his own theories on the nation rather than truly fighting for its financial survival.
Tsipras wrote how the negotiations to avoid insolvency were “not only a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was both the country's future and those severe austerity policies required in return for rescue loans from international creditors.
Failed Options
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the excoriating bailout terms were put to a public vote, a move that plunged the EU into a further existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome and negotiate a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency as well as issuing vouchers to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes that his former ally had proved himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of events has provoked anger and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
