Within his newly released personal account, called Ithaki, the former prime minister Tsipras does not hold back as he examines that turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, he appointed that maverick economist Varoufakis to be the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims that his finance chief had a personal motives which included promoting Varoufakis's books as well as experimenting with his own economic models on the nation instead of genuinely advocating its financial survival.
He wrote that those discussions to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future but also the harsh austerity policies required in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a public vote, a move that threw Europe into a further existential crisis.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced to ignore the result then agree to a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts how his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He also wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for Grexit.
The retelling of events has been met with anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
