Within his recently unveiled personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits the chaotic period during Greece's financial crisis.
An Unconventional Choice
As per Tsipras's account, Tsipras appointed that maverick academic Varoufakis to be the treasury head primarily because of his global profile and his highly compelling skills as a communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had a personal motives which included advancing his publications and experimenting with his game theories on Greece instead of genuinely advocating the country's economic stability.
Tsipras noted that the talks to stave off bankruptcy became “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay both Greece's future but also those harsh austerity measures required in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find financing from other sources, including an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the harsh conditions were put to a public vote, a move that threw Europe into a further crisis of identity.
Although the referendum was carried decisively by those who opposed austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the covers of magazines globally … it seemed he relished his new role.”
After the minister proposed a contingency plan involving creating a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and delicate management.”
He also claimed how his aggressive approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of history has provoked anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
