Within his recently unveiled memoir, titled Ithaki, the former premier Tsipras does not hold back as he examines the chaotic period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's account, he chose the maverick academic Varoufakis to be his finance minister primarily due to his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief had a personal agenda that included promoting his books as well as testing out his economic models using the nation rather than genuinely advocating its financial survival.
He wrote how those talks to avoid bankruptcy became “not only a method to secure improved terms for the country. They became a test, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During tense discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay not only the country's destiny and those punishing austerity measures demanded in exchange for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister had little option to ignore the result then negotiate a bailout package with creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing coupons to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were pushing for a Greek exit from the euro.
The retelling of events has been met with anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
