Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he examines the chaotic era during Greece's debt drama.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed that maverick economist Varoufakis to be the finance minister largely because of the latter's global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, actually, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims how his finance chief possessed a personal motives which involved advancing Varoufakis's books and testing out his own theories using Greece rather than truly fighting for the country's economic stability.
He noted that the discussions to avoid insolvency became “not just a way of achieving a better deal for Greece. They were a test, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's destiny but also the punishing cutbacks required in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing from other sources, including an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end questioning him: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
He also claimed how his confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners that were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence on the matter.
