Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras appointed the unorthodox economist Varoufakis to be his finance minister largely due to his global profile along with Varoufakis's very persuasive skills as a communicator.
“He was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that his finance chief possessed his own agenda which involved advancing Varoufakis's publications and experimenting with his theories using Greece rather than genuinely fighting for the country's financial survival.
He explained that the talks to prevent bankruptcy became “not just a way of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile discussions, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only Greece's destiny and those harsh cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the vote was won resoundingly by voters against austerity, the prime minister had little option to reject its outcome then negotiate a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Lasting Criticism
In the book, the author concludes how Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how his aggressive style left him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
This account of events has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet regarding these claims.
