Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, Tsipras chose that unorthodox academic Varoufakis to be his treasury head primarily due to the latter's worldwide fame and his very persuasive skills when it came to public orator.
“He was, truthfully, more of a personality rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda that included advancing his publications and experimenting with his own theories using the nation rather than truly fighting for its financial survival.
He explained how those discussions to avoid insolvency were “not only a method to secure improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Talks
During volatile negotiations, Greece came perilously on the brink of exiting the single currency area.
On the line was both the country's destiny and those harsh austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was carried decisively by those against austerity, Tsipras had little option to reject its outcome and agree to a bailout package from foreign lenders which proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with anger along with shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
