In a newly released memoir, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as his treasury head largely because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had a personal motives which included promoting Varoufakis's books as well as experimenting with his theories using the nation instead of truly fighting for the country's economic stability.
He explained how those negotiations to avoid bankruptcy were “not only a method to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
Amid volatile negotiations, the country came dangerously close to leaving the eurozone.
On the line was not only Greece's destiny and the punishing austerity measures demanded in return for bailout funds by international creditors.
Failed Options
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged Europe into a further crisis of identity.
Although the referendum was won decisively by those against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal with creditors which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
This retelling of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
