In a freshly published personal account, titled Ithaki, the ex- leader Tsipras does not hold back while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, he appointed that unorthodox academic Varoufakis as the treasury head mainly due to his global profile and his very persuasive skills when it came to communicator.
“He was, truthfully, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had his own motives which involved advancing his publications and experimenting with his own economic models on Greece rather than truly advocating the country's financial survival.
He wrote how the talks to avoid bankruptcy were “not only a method to secure improved terms for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only the country's future but also those punishing cutbacks demanded in exchange for rescue loans by international creditors.
Failed Options
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that plunged the EU into further crisis of identity.
Although the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
This retelling of history has provoked fury along with shock in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.
