Within his recently unveiled personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back while he revisits that chaotic period of Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's recollections, Tsipras chose that unorthodox academic Varoufakis as his treasury head largely because of the latter's international reputation and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges how his finance chief possessed his own agenda which included advancing Varoufakis's publications and testing out his theories using the nation instead of truly advocating the country's financial survival.
He noted how the negotiations to stave off insolvency became “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, the country found itself dangerously close to leaving the eurozone.
On the line lay not only the country's future but also those harsh cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, an action which plunged the EU into a further crisis of identity.
Even though the referendum was carried decisively by voters against austerity, the prime minister had little option to ignore the result then negotiate a bailout package from creditors which proved to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate handling.”
He also claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
