Within his newly released personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits that turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, Tsipras chose the maverick economist Varoufakis to be his finance minister largely due to his international reputation and his very persuasive skills when it came to public orator.
“He was, actually, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras suggests that his finance chief possessed a personal motives that involved promoting Varoufakis's publications and experimenting with his theories using the nation rather than truly advocating the country's financial survival.
He wrote how those talks to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were a test, a monumental chance to prove the truth of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's future and the severe austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by those against austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with creditors which proved to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
This account of events has been met with anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
