Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras does not hold back while he examines that turbulent era during Greece's debt drama.
A Controversial Choice
In Tsipras's recollections, he selected that maverick economist Varoufakis as his treasury head mainly because of the latter's global profile and his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests how Varoufakis possessed a personal agenda that involved promoting Varoufakis's books as well as testing out his theories using the nation rather than truly advocating the country's financial survival.
Tsipras wrote that those negotiations to stave off insolvency became “not only a way to secure improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
During tense discussions, the country found itself perilously close to exiting the eurozone.
At stake lay not only the country's future and the severe austerity measures required in return for financial aid from international creditors.
Failed Alternatives
Efforts to find funds from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a public vote, a move which threw Europe into a further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome then agree to a rescue deal with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author concludes that his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
This account of events has been met with anger and shock in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
