Within his freshly published personal account, named Ithaki, the former leader Tsipras does not hold back while he revisits the chaotic era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's account, he selected that unorthodox academic Varoufakis to be his treasury head mainly due to the latter's global profile and his “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed his own agenda that included promoting his publications as well as experimenting with his economic models using the nation instead of genuinely advocating its financial survival.
Tsipras explained how those talks to prevent insolvency became “not only a way of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay both the country's future but also the punishing cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be tougher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
Tsipras also claimed that his confrontational approach left him more and more alone among peers, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of history has provoked fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
