Within his newly released personal account, called Ithaki, the former prime minister Alexis Tsipras spares no criticism while he revisits the turbulent period of Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras selected that unorthodox economist Varoufakis to be his finance minister primarily due to the latter's global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader suggests how his finance chief possessed a personal agenda which involved advancing his publications as well as experimenting with his economic models on Greece instead of truly advocating its economic stability.
He noted how those talks to stave off insolvency became “not only a way to secure a better deal for Greece. They became a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid volatile discussions, the country came perilously on the brink of leaving the single currency area.
At stake was not only the country's destiny but also the harsh austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move that threw the EU into a further crisis of identity.
Although the vote was won resoundingly by those against the cuts, the prime minister was forced but to reject its outcome and agree to a bailout package with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
He also claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
