Within his recently unveiled memoir, titled Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras appointed that maverick economist Varoufakis as his treasury head mainly because of his worldwide fame and Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, actually, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own motives that included promoting Varoufakis's publications and testing out his theories using Greece instead of truly fighting for the country's financial survival.
He explained that those discussions to stave off insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country came dangerously close to exiting the eurozone.
At stake was not only Greece's destiny but also the punishing austerity policies demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action that threw the EU into a further existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and agree to a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader said he realised it was the end and asked him: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that Varoufakis had proved himself to be “unfit for an agreement that required intricate and delicate management.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
