Within his recently unveiled personal account, named Ithaki, the ex- premier Tsipras does not hold back while he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's version, Tsipras chose the unorthodox academic Varoufakis as the finance minister primarily because of the latter's global profile and his very persuasive skills as a public orator.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras suggests how his finance chief possessed a personal agenda that included promoting Varoufakis's publications and testing out his own economic models on the nation rather than genuinely fighting for its economic stability.
Tsipras noted how those discussions to avoid insolvency were “not just a way to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, the country came dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's future but also those severe cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, a move which threw Europe into deeper existential crisis.
Although the referendum was carried resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome then agree to a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how his former ally had proved himself to be “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
