Within his newly released personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he reflects on the chaotic period during Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras chose that unorthodox academic Varoufakis to be his treasury head largely due to the latter's worldwide fame and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, truthfully, more like a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief had his own motives that included advancing his publications as well as testing out his own theories using Greece rather than truly fighting for its economic stability.
Tsipras noted that those discussions to avoid insolvency were “not just a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came dangerously close to leaving the single currency area.
At stake lay not only the country's destiny and those harsh cutbacks demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive conditions were subjected to a public vote, an action that threw Europe into further crisis of identity.
Even though the vote was won resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package from creditors which turned out to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author asserts how his former ally had proved himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also claimed how his aggressive style made him more and more alone among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
This account of history has been met with fury and shock in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
