Within his freshly published personal account, named Ithaki, the ex- premier Tsipras spares no criticism as he revisits that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed the maverick economist Varoufakis as the treasury head mainly due to his international reputation along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, actually, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis possessed his own motives which included promoting his publications as well as experimenting with his own theories using the nation rather than truly advocating its economic stability.
He wrote that those discussions to avoid bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid volatile negotiations, Greece came perilously close to leaving the single currency area.
On the line was not only Greece's destiny but also those punishing austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, an action which plunged Europe into a further existential crisis.
Even though the referendum was won decisively by voters against austerity, the prime minister had little option to ignore the result then negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
He also wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This retelling of history has been met with fury along with shock in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
