In a recently unveiled memoir, titled Ithaki, the former leader Alexis Tsipras does not hold back as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's version, he chose the unorthodox academic Varoufakis to be his treasury head mainly due to his global profile and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own agenda which involved promoting his books and testing out his own game theories using Greece rather than truly fighting for its economic stability.
He wrote that those talks to prevent insolvency were “not only a way of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
At stake lay both Greece's future but also the punishing austerity measures demanded in return for bailout funds from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a public vote, a move which threw the EU into a deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, Tsipras had little option but to ignore the result and agree to a rescue deal from creditors that turned out to be more severe.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed that his aggressive style left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
