In a newly released personal account, titled Ithaki, the former prime minister Tsipras does not hold back while he reflects on that chaotic era during Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, Tsipras appointed the unorthodox academic Varoufakis as the finance minister largely because of his global profile and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a personality and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda which involved advancing his books as well as experimenting with his economic models on the nation rather than truly advocating the country's financial survival.
He explained that those discussions to prevent insolvency became “not just a way of achieving improved terms for Greece. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
On the line lay both the country's future but also the harsh austerity policies demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, a move which threw Europe into further crisis of identity.
Although the referendum was won resoundingly by those against austerity, the prime minister had little option to reject its outcome and agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
He also claimed how his aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
