Within his freshly published personal account, titled Ithaki, the former leader Tsipras pulls no punches while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's recollections, Tsipras chose that maverick academic Varoufakis as his finance minister primarily because of the latter's global profile and his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader suggests how Varoufakis possessed his own agenda that involved advancing his publications and experimenting with his own theories on the nation rather than truly fighting for its economic stability.
He noted how the negotiations to prevent insolvency were “not only a way to secure improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously on the brink of leaving the eurozone.
On the line was not only Greece's future and the harsh austerity measures required in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, an action which plunged the EU into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes that his former ally had proved himself “unfit for an agreement demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
