Within his recently unveiled personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he reflects on the turbulent era during Greece's debt drama.
An Unconventional Appointment
In Tsipras's recollections, Tsipras appointed that maverick economist Varoufakis as the treasury head largely because of the latter's worldwide fame and Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras suggests how his finance chief possessed his own agenda which involved advancing Varoufakis's publications as well as testing out his economic models using the nation instead of genuinely advocating the country's economic stability.
He noted how those talks to prevent bankruptcy became “not only a way to secure improved terms for Greece. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
High-Stakes Negotiations
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
At stake was both Greece's future and those punishing austerity policies demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged Europe into a deeper crisis of identity.
Although the vote was carried decisively by those against the cuts, the prime minister had little option to ignore the result and agree to a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and delicate handling.”
Tsipras further claimed that Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The account of events has been met with anger and shock among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
