In a recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits the turbulent era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he appointed that maverick economist Varoufakis to be the finance minister largely because of the latter's international reputation and his very persuasive abilities when it came to public orator.
“He was, actually, more of a personality rather than an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras claims how his finance chief had his own agenda that included advancing Varoufakis's publications and testing out his own theories using Greece rather than genuinely fighting for its economic stability.
Tsipras wrote how those negotiations to stave off insolvency became “not just a way to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece came perilously close to leaving the single currency area.
At stake was both Greece's destiny and those severe austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move which plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then negotiate a bailout package from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further claimed how his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hawks that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
