Within his recently unveiled personal account, named Ithaki, the former leader Tsipras does not hold back as he examines that chaotic era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head largely due to his global profile along with his highly compelling skills when it came to communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal motives that included advancing his publications as well as testing out his own game theories on Greece rather than genuinely fighting for its financial survival.
He explained that the discussions to stave off insolvency became “not just a way of achieving improved terms for Greece. They were a test, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, Greece came perilously close to exiting the single currency area.
At stake was not only the country's destiny but also those severe cutbacks required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action that plunged Europe into further crisis of identity.
Although the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result then agree to a bailout package with creditors that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a secondary currency and distributing vouchers to pensioners, Tsipras knew that it was game over questioning him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
Tsipras further claimed that his aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has maintained a deafening silence on the matter.
