Within his newly released personal account, called Ithaki, the former premier Tsipras pulls no punches as he examines the turbulent era during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox economist Varoufakis as the finance minister primarily because of his international reputation along with Varoufakis's highly compelling skills as a communicator.
“He was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had his own agenda that involved promoting his books and experimenting with his own economic models on the nation rather than genuinely advocating the country's economic stability.
Tsipras explained how the talks to stave off insolvency became “not just a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to prove the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both the country's future and those severe austerity policies demanded in return for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating conditions were subjected to a popular referendum, an action which threw the EU into a further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome then negotiate a rescue deal with creditors which turned out to be more severe.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
He also wrote that his confrontational approach made him more and more alone among peers, endangered the country, and helped hardliners that were advocating Grexit.
This retelling of history has been met with anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
