In a newly released personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he examines the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's version, Tsipras appointed that maverick economist Varoufakis to be his finance minister mainly because of his worldwide fame along with his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges that his finance chief had a personal agenda which included promoting Varoufakis's books and experimenting with his game theories using Greece instead of genuinely advocating the country's financial survival.
Tsipras wrote that the discussions to prevent insolvency were “not just a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay both Greece's destiny and those harsh austerity policies required in return for rescue loans from international creditors.
Failed Options
Attempts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a public vote, an action which threw the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced to ignore the result then agree to a rescue deal from foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and delicate management.”
Tsipras further claimed that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
This account of events has provoked anger and shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
