Within his newly released personal account, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's account, he appointed that maverick academic Varoufakis as his finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling skills when it came to public orator.
“He was, truthfully, more like a star rather than an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal motives that included promoting his books and testing out his own theories using the nation instead of genuinely fighting for the country's financial survival.
Tsipras noted how those negotiations to avoid insolvency were “not only a method of achieving a better deal for Greece. They were a test, an historic chance to prove the validity of his ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously close to exiting the single currency area.
At stake was not only the country's future and those severe austerity measures required in return for rescue loans by international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were subjected to a public vote, a move which threw the EU into further crisis of identity.
Even though the referendum was won resoundingly by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of history has provoked anger along with shock among certain groups, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
