In a freshly published personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras chose the unorthodox academic Varoufakis as his treasury head mainly because of the latter's worldwide fame along with his very persuasive abilities as a speaker.
“He was, actually, more of a personality rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims how Varoufakis had a personal motives which included promoting his books as well as testing out his economic models using Greece instead of truly fighting for its economic stability.
He explained that the talks to avoid bankruptcy became “not only a way to secure improved terms for Greece. They were a test, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
On the line lay both Greece's future but also the harsh austerity measures required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a popular referendum, a move which threw Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed the cuts, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive management.”
He further claimed that his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
