In a freshly published personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he examines the turbulent era of Greece's debt drama.
A Controversial Appointment
According to Tsipras's account, Tsipras chose that unorthodox economist Varoufakis to be his finance minister primarily due to his global profile and his “extremely attractive” abilities as a communicator.
“He was, in reality, more like a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own agenda which included advancing his publications as well as experimenting with his theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras explained that those negotiations to prevent bankruptcy were “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
Amid volatile negotiations, the country came perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also those harsh austerity measures demanded in return for financial aid by international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were put to a public vote, a move which plunged the EU into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed austerity, Tsipras was forced to ignore the result and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency as well as issuing vouchers to pensioners, Tsipras knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for a deal demanding complex and delicate management.”
He also claimed that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and helped hawks who were advocating Grexit.
This account of events has provoked anger and stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
