Within his freshly published personal account, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's account, he selected the maverick academic Varoufakis to be the finance minister mainly due to his worldwide fame and Varoufakis's highly compelling skills as a communicator.
“In reality, he was, in reality, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal motives that involved promoting Varoufakis's publications as well as testing out his economic models on the nation instead of truly fighting for its economic stability.
Tsipras noted that the negotiations to prevent insolvency became “not only a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
Amid rollercoaster discussions, Greece came perilously on the brink of exiting the single currency area.
On the line was not only the country's future and those severe austerity measures required in exchange for rescue loans by international creditors.
Failed Alternatives
Efforts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result and agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further wrote that his aggressive approach left him more and more alone with colleagues, put Greece at risk, and helped hawks that were advocating Grexit.
This account of events has been met with fury along with shock in some quarters, whereas the former minister has maintained a deafening silence regarding these claims.
