Within his freshly published personal account, called Ithaki, the former premier Tsipras pulls no punches as he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
According to Tsipras's version, Tsipras chose that maverick academic Varoufakis to be the finance minister largely due to his international reputation and Varoufakis's “extremely attractive” abilities as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had his own agenda that included promoting Varoufakis's publications as well as experimenting with his own theories on the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote how the talks to avoid bankruptcy became “not only a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line was both Greece's future and the punishing austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into a further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, the leader knew it was the end questioning him: “Are you serious?”
Lasting Criticism
In the book, the author asserts that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”
Tsipras further claimed how his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has provoked anger and shock among certain groups, while Varoufakis has maintained a deafening silence regarding these claims.
