In a recently unveiled personal account, named Ithaki, the ex- premier Tsipras pulls no punches while he examines the turbulent era of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected the maverick economist Varoufakis as his finance minister largely because of the latter's global profile along with Varoufakis's very persuasive abilities as a speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had a personal motives which involved advancing his books as well as experimenting with his theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote that the negotiations to avoid insolvency became “not only a method to secure a better deal for Greece. They were a test, an historic chance to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of leaving the eurozone.
At stake lay not only the country's future and the harsh austerity measures demanded in exchange for bailout funds from international creditors.
Failed Options
Efforts to find financing elsewhere, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those harsh bailout terms were subjected to a public vote, a move which plunged the EU into a further existential crisis.
Although the referendum was carried decisively by voters against austerity, Tsipras was forced to reject its outcome then negotiate a rescue deal from creditors which proved to be even harsher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
