Within his newly released personal account, called Ithaki, the former prime minister Tsipras pulls no punches while he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
In Tsipras's version, Tsipras selected that unorthodox academic Varoufakis as his treasury head mainly because of his international reputation and Varoufakis's highly compelling abilities when it came to public orator.
“He was, in reality, more like a personality and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis had a personal motives which involved promoting his publications and testing out his own theories on the nation instead of genuinely advocating its financial survival.
Tsipras wrote how those discussions to stave off insolvency became “not just a method of achieving a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay both Greece's destiny but also the harsh austerity measures required in return for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged Europe into a further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, the prime minister had little option to ignore the result and agree to a rescue deal from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required intricate and delicate handling.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
