Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he selected the maverick academic Varoufakis as the finance minister primarily due to his worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more like a celebrity and less of an economist,” stated Tsipras.
Conflicting Agendas
Tsipras alleges that his finance chief possessed a personal motives that involved advancing Varoufakis's publications and experimenting with his own economic models on the nation rather than truly advocating its economic stability.
He noted that the discussions to stave off bankruptcy were “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was both Greece's destiny but also the severe austerity measures demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing elsewhere, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a public vote, an action that plunged the EU into a deeper crisis of identity.
Although the vote was won decisively by voters against austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, the leader said he realised that it was the end questioning him: “Is this for real?”
Enduring Rebuke
Within the book, the author asserts how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
The account of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
