Within his recently unveiled personal account, named Ithaki, the ex- leader Tsipras does not hold back as he revisits that turbulent period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he appointed that unorthodox academic Varoufakis as his treasury head largely due to his global profile along with his very persuasive abilities as a speaker.
“He was, truthfully, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis had a personal motives which included advancing his publications and experimenting with his own theories using the nation instead of truly advocating its financial survival.
He wrote how those negotiations to prevent insolvency were “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake was not only the country's destiny but also the harsh austerity policies required in exchange for financial aid by foreign lenders.
Failed Options
Efforts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, a move that threw the EU into a deeper crisis of identity.
Although the referendum was won decisively by voters against the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
