Within his newly released personal account, called Ithaki, the former prime minister Tsipras spares no criticism as he revisits the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed the maverick academic Varoufakis as his finance minister mainly because of his international reputation and Varoufakis's highly compelling skills as a speaker.
“In reality, he was, actually, more of a star rather than an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had his own motives that included promoting Varoufakis's books and experimenting with his own economic models on Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted how those negotiations to prevent insolvency were “not just a method to secure a better deal for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, the country came dangerously on the brink of leaving the single currency area.
At stake lay both Greece's future and the punishing cutbacks demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that plunged Europe into further crisis of identity.
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 rescue deal with foreign lenders which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, Tsipras said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
