In a newly released personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on that turbulent period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis to be the finance minister primarily because of his global profile along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more like a star and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had a personal motives which included advancing his books as well as testing out his theories using Greece instead of truly advocating its financial survival.
He explained how those talks to stave off bankruptcy were “not only a way of achieving improved terms for the country. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, Greece found itself dangerously close to exiting the single currency area.
On the line lay both Greece's future and the punishing cutbacks demanded in return for financial aid from foreign lenders.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, a move that plunged Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister proposed a backup strategy involving establishing a parallel currency and issuing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement that required complex and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
