Within his recently unveiled personal account, named Ithaki, the former leader Tsipras spares no criticism while he examines that chaotic era of Greece's financial crisis.
An Unconventional Appointment
As per the ex-PM's version, he appointed the maverick economist Varoufakis to be his finance minister primarily because of his international reputation along with his very persuasive abilities as a public orator.
“He was, actually, more like a celebrity rather than an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had a personal agenda which involved advancing Varoufakis's publications as well as experimenting with his own economic models on the nation instead of truly fighting for the country's economic stability.
He noted how the talks to avoid bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line was not only the country's future but also those severe cutbacks required in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which threw Europe into a further existential crisis.
Although the referendum was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then negotiate a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing coupons to retirees, Tsipras said he realised it was the end questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, the author concludes that his former ally had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating Grexit.
The account of events has been met with fury along with shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
