Within his recently unveiled personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, he appointed the unorthodox academic Varoufakis as his treasury head primarily because of his international reputation and his “extremely attractive” abilities as a public orator.
“He was, actually, more of a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader alleges how his finance chief possessed his own motives that involved advancing his publications and experimenting with his own theories using Greece instead of genuinely advocating the country's economic stability.
Tsipras explained that the negotiations to avoid bankruptcy became “not only a way to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, the country came perilously close to leaving the single currency area.
At stake was both Greece's future and the punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those harsh conditions were put to a popular referendum, an action that threw the EU into further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself “unfit for a deal demanding complex and sensitive management.”
He further claimed that his confrontational approach made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
