Within his freshly published personal account, called Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he selected the unorthodox academic Varoufakis as the treasury head primarily because of his international reputation along with Varoufakis's very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed his own motives which included advancing his books and testing out his own economic models on Greece rather than truly fighting for the country's economic stability.
Tsipras explained how the discussions to avoid insolvency were “not just a way of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster discussions, Greece came perilously on the brink of leaving the single currency area.
At stake was not only the country's future but also the severe austerity policies required in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds from other sources, including an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency and distributing coupons to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
