Within his newly released memoir, named Ithaki, the ex- leader Tsipras does not hold back while he revisits the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's account, Tsipras selected that maverick academic Varoufakis to be his treasury head largely because of his worldwide fame along with Varoufakis's “extremely attractive” skills as a communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how his finance chief had his own motives which involved advancing Varoufakis's publications and testing out his economic models using the nation rather than genuinely advocating the country's financial survival.
He noted how those discussions to prevent insolvency were “not only a way to secure a better deal for Greece. They became a test, an historic chance to prove the validity of his theories.”
High-Stakes Talks
During volatile discussions, Greece found itself perilously close to leaving the single currency area.
On the line was both Greece's future but also the punishing austerity policies required in return for rescue loans by international creditors.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by those who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a backup strategy involving creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
This account of events has been met with fury and shock in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
