Within his recently unveiled personal account, named Ithaki, the former premier Tsipras does not hold back while he revisits the turbulent era during Greece's debt drama.
A Controversial Choice
In the ex-PM's version, Tsipras appointed that maverick academic Varoufakis as the treasury head mainly due to the latter's global profile along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis possessed a personal motives which included advancing his publications as well as testing out his economic models on Greece rather than genuinely advocating the country's economic stability.
He explained that the negotiations to avoid bankruptcy became “not just a way to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of his theories.”
Critical Talks
Amid volatile discussions, Greece came dangerously close to exiting the eurozone.
At stake lay both the country's destiny and the harsh cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader said he realised it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He also claimed that Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while assisted hardliners that were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
