In a recently unveiled personal account, called Ithaki, the former premier Tsipras spares no criticism while he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's recollections, Tsipras chose the unorthodox academic Varoufakis as his treasury head primarily because of the latter's international reputation and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a star and less of an economist,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how Varoufakis had his own agenda which included advancing his publications and testing out his own theories on Greece rather than truly advocating the country's financial survival.
He noted how those talks to avoid bankruptcy were “not just a method to secure a better deal for the country. They became a test, a monumental chance to prove the validity of his ideas.”
Critical Negotiations
During tense negotiations, Greece came dangerously close to exiting the eurozone.
On the line lay not only Greece's future and the severe cutbacks required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to buy Greek government bonds, went unanswered.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option but to ignore the result and negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a parallel currency and distributing coupons to retirees, the leader knew that it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
He further claimed how Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of history has been met with anger along with shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
