Within his freshly published personal account, called Ithaki, the former prime minister Tsipras does not hold back as he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, Tsipras selected that unorthodox academic Varoufakis to be the treasury head primarily due to his global profile along with Varoufakis's very persuasive abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that involved advancing Varoufakis's books as well as experimenting with his economic models using the nation instead of truly advocating the country's economic stability.
Tsipras explained how those talks to avoid insolvency became “not just a way of achieving a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of leaving the single currency area.
At stake lay not only Greece's destiny but also those severe cutbacks required in return for bailout funds from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the vote was carried resoundingly by those against austerity, the prime minister was forced to ignore the result and agree to a rescue deal with foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras concludes that his former ally had proved himself “unfit for an agreement demanding complex and delicate handling.”
He also wrote how his aggressive style left him increasingly isolated among peers, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
This account of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
