Within his recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that chaotic era of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, he chose that unorthodox economist Varoufakis as his treasury head primarily because of the latter's global profile and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, truthfully, more like a personality and less of an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed his own agenda which involved promoting his books and experimenting with his own economic models on Greece instead of truly advocating the country's economic stability.
He wrote that the talks to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They became a test, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
Amid tense discussions, the country came perilously on the brink of leaving the eurozone.
On the line lay not only Greece's future and the harsh austerity policies demanded in return for rescue loans by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan involving establishing a parallel currency and issuing vouchers to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis had proved himself “unsuitable for a deal demanding complex and sensitive management.”
Tsipras also claimed that his aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
This retelling of events has provoked anger along with stunned disbelief in some quarters, while Varoufakis has kept a deafening silence regarding these claims.
