Within his freshly published personal account, titled Ithaki, the ex- leader Tsipras pulls no punches while he revisits that turbulent period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that unorthodox economist Varoufakis to be his treasury head primarily because of his global profile and Varoufakis's “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own agenda that included promoting Varoufakis's books as well as experimenting with his economic models using Greece instead of genuinely advocating its economic stability.
He noted that the negotiations to avoid insolvency were “not just a method to secure improved terms for Greece. They were an experiment, an historic opportunity to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the single currency area.
At stake was both the country's future but also the severe cutbacks demanded in return for financial aid by foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh conditions were subjected to a public vote, an action which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome and agree to a bailout package with foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image 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 involving establishing a parallel currency and issuing coupons to retirees, the leader said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how his confrontational style made him increasingly isolated among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The retelling of events has provoked anger along with stunned disbelief among certain groups, while the former minister has kept a deafening silence regarding these claims.
