Within his newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism while he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's account, Tsipras appointed the unorthodox academic Varoufakis as his finance minister largely due to his global profile and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled Tsipras.
Clashing Agendas
The former leader suggests that his finance chief possessed his own agenda which involved promoting Varoufakis's books as well as testing out his theories using the nation instead of truly advocating the country's economic stability.
He wrote that those discussions to stave off bankruptcy were “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the eurozone.
At stake was not only Greece's future and the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, including an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, an action that threw Europe into a further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced to ignore the result and agree to a bailout package from foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“He was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes how Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also claimed how his aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
The account of events has provoked fury and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
