Within his newly released personal account, called Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on the chaotic era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras selected that unorthodox academic Varoufakis to be his finance minister mainly because of his international reputation and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how Varoufakis had a personal agenda which included promoting Varoufakis's publications and experimenting with his theories on Greece instead of genuinely advocating its economic stability.
He wrote that those discussions to avoid bankruptcy became “not only a method of achieving improved terms for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay both Greece's future but also those punishing cutbacks required in return for financial aid from international creditors.
Failed Alternatives
Attempts to find funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a popular referendum, an action that threw the EU into a further crisis of identity.
Although the vote was carried resoundingly by those against the cuts, the prime minister was forced to ignore the result then agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of publications globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, the author concludes how his former ally had proved himself to be “unsuitable for a deal that required intricate and sensitive handling.”
He also wrote that his aggressive style left him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of events has provoked fury and stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
