In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras does not hold back as he examines that turbulent era of Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, he chose that unorthodox academic Varoufakis to be the finance minister mainly because of the latter's global profile along with his very persuasive skills when it came to public orator.
“He was, truthfully, more like a personality and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal motives which included advancing his publications and experimenting with his economic models on Greece rather than truly advocating the country's economic stability.
Tsipras noted how those discussions to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
On the line was both the country's future and those harsh cutbacks demanded in return for bailout funds from foreign lenders.
Failed Options
Attempts to find financing elsewhere, including an urgent plea to Russia to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move that plunged the EU into further crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
