In a newly released personal account, called Ithaki, the ex- leader Alexis Tsipras pulls no punches while he revisits the turbulent era during Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, Tsipras appointed that unorthodox economist Varoufakis to be his treasury head largely due to the latter's worldwide fame along with his “extremely attractive” abilities when it came to speaker.
“He was, in reality, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief possessed his own motives that included promoting Varoufakis's books as well as testing out his game theories using the nation rather than genuinely advocating its economic stability.
He noted that those negotiations to avoid bankruptcy were “not only a method to secure a better deal for the country. They were a test, an historic chance to demonstrate the truth of his theories.”
High-Stakes Talks
During tense negotiations, Greece came perilously on the brink of leaving the eurozone.
On the line lay both the country's future but also the punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a public vote, a move that plunged Europe into deeper crisis of identity.
Although the referendum was won decisively by voters against austerity, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
