Within his newly released personal account, named Ithaki, the ex- leader Tsipras does not hold back as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he appointed that unorthodox economist Varoufakis as his finance minister largely due to his global profile and his highly compelling skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras suggests how Varoufakis had a personal motives which involved promoting his publications and testing out his economic models on Greece instead of genuinely advocating its financial survival.
Tsipras noted how the discussions to prevent bankruptcy were “not just a way to secure a better deal for Greece. They became a test, an historic opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid tense discussions, Greece found itself perilously close to leaving the single currency area.
At stake lay not only the country's future and the harsh cutbacks required in return for rescue loans from international creditors.
Failed Options
Efforts to find financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move that threw the EU into a deeper existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, the prime minister had little option to ignore the result then agree to a bailout package from foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and helped hawks that were pushing for Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
