In a newly released personal account, named Ithaki, the ex- premier Alexis Tsipras spares no criticism as he reflects on that chaotic period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he chose that unorthodox economist Varoufakis as the finance minister primarily due to the latter's international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own motives that involved promoting Varoufakis's books as well as experimenting with his economic models using the nation rather than truly fighting for its economic stability.
He explained how those discussions to avoid insolvency became “not only a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only Greece's destiny but also the severe austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh conditions were subjected to a popular referendum, an action which threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those against austerity, the prime minister had little option to ignore the result then agree to a bailout package with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency and issuing vouchers to retirees, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unfit for an agreement that required intricate and sensitive management.”
He also claimed that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hardliners who were advocating Grexit.
The account of events has provoked fury and shock in some quarters, whereas the former minister has so far maintained a deafening silence regarding these claims.
