In a recently unveiled personal account, named Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's recollections, he chose that maverick economist Varoufakis as the finance minister mainly because of the latter's international reputation and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader alleges how his finance chief possessed his own agenda that involved promoting Varoufakis's publications and experimenting with his own game theories on the nation instead of genuinely advocating its economic stability.
He explained how those discussions to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only the country's destiny and the harsh austerity policies required in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action which threw the EU into further existential crisis.
Although the referendum was won resoundingly by those against austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors which proved to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
