In a freshly published personal account, titled Ithaki, the former premier Tsipras spares no criticism while he examines the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he appointed that maverick academic Varoufakis as the finance minister primarily because of the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“He was, in reality, more like a star rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief had a personal motives which included promoting Varoufakis's publications and testing out his theories on the nation rather than genuinely fighting for the country's financial survival.
He wrote how those discussions to prevent bankruptcy were “not just a method to secure a better deal for the country. They became a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's destiny but also the punishing cutbacks demanded in return for financial aid by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
He further wrote how his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
