Within his recently unveiled personal account, named Ithaki, the former prime minister Alexis Tsipras does not hold back as he reflects on the turbulent period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that unorthodox economist Varoufakis as his treasury head largely because of the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“He was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis had a personal motives which included advancing Varoufakis's publications as well as experimenting with his theories on Greece rather than genuinely fighting for its economic stability.
Tsipras noted how the talks to stave off insolvency were “not just a method of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only Greece's future and those severe austerity policies demanded in return for financial aid by foreign lenders.
Failed Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing vouchers to retirees, Tsipras knew it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This account of history has been met with anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
