Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent period of Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, Tsipras appointed the maverick economist Varoufakis to be the treasury head largely because of his global profile along with Varoufakis's “extremely attractive” skills as a speaker.
“He was, actually, more of a star and less of an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal motives that involved promoting his books and experimenting with his theories on Greece instead of genuinely fighting for its economic stability.
He wrote how those negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They were a test, an historic chance to prove the truth of his theories.”
Critical Negotiations
Amid volatile negotiations, Greece came perilously close to leaving the single currency area.
On the line was both Greece's destiny and the harsh austerity measures demanded in exchange for financial aid from foreign lenders.
Failed Options
Efforts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced to ignore the result then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has maintained a deafening silence regarding these claims.
