In a freshly published memoir, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
In Tsipras's version, he appointed the maverick academic Varoufakis to be his finance minister primarily due to his global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis had his own agenda which involved promoting Varoufakis's publications as well as testing out his theories using the nation rather than genuinely fighting for its financial survival.
Tsipras wrote that those negotiations to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came perilously close to leaving the single currency area.
At stake lay both Greece's destiny and the punishing cutbacks required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to the Kremlin 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.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a public vote, an action that plunged Europe into a further crisis of identity.
Although the vote was won resoundingly by those against the cuts, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who attracted media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader said he realised it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the book, the author concludes that his former ally had proved himself “unfit for an agreement demanding complex and sensitive handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
