In a freshly published personal account, titled Ithaki, the ex- prime minister Tsipras pulls no punches as he reflects on the chaotic era during Greece's financial crisis.
A Controversial Appointment
In the ex-PM's recollections, Tsipras selected the maverick economist Varoufakis as the treasury head mainly because of his global profile and his very persuasive abilities when it came to public orator.
“He was, actually, more like a star rather than an economic expert,” recalled Tsipras.
Conflicting Priorities
Tsipras suggests that Varoufakis possessed a personal motives which included advancing his publications and experimenting with his own economic models on the nation instead of truly fighting for its economic stability.
He explained that those negotiations to prevent insolvency were “not only a method to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of his ideas.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously close to exiting the eurozone.
At stake lay both Greece's destiny and those harsh austerity policies required in return for bailout funds from international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move that plunged the EU into a deeper crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister had little option but to ignore the result and agree to a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unsuitable for an agreement demanding intricate and delicate handling.”
He also claimed that his aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of events has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
