Within his newly released personal account, called Ithaki, the former leader Tsipras pulls no punches as he examines the chaotic period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, Tsipras appointed the maverick academic Varoufakis to be his treasury head largely because of his international reputation along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, truthfully, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader claims how his finance chief had a personal motives which included promoting his books and experimenting with his own theories on Greece instead of genuinely fighting for the country's economic stability.
Tsipras explained that those talks to prevent bankruptcy became “not just a way of achieving a better deal for Greece. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense negotiations, Greece found itself dangerously close to leaving the single currency area.
On the line was not only Greece's destiny and the severe cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those harsh bailout terms were put to a public vote, an action which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome then agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the front pages of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for an agreement that required intricate and delicate management.”
He also claimed how his aggressive approach made him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
The retelling of history has provoked fury and shock among certain groups, whereas the former minister has maintained a deafening silence regarding these claims.
