Within his freshly published memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on the turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he selected that unorthodox academic Varoufakis to be his finance minister largely due to the latter's worldwide fame and Varoufakis's very persuasive skills as a speaker.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis had a personal agenda that involved promoting Varoufakis's books and testing out his own theories on the nation rather than genuinely advocating its economic stability.
He wrote how the negotiations to stave off bankruptcy were “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake was both Greece's future but also those punishing austerity policies demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move which threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced to reject its outcome and agree to a bailout package with foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
He further wrote that his confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners that were advocating Grexit.
The retelling of history has been met with fury along with shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
