In a freshly published memoir, called Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent period of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he selected the unorthodox academic Varoufakis to be the finance minister largely due to the latter's global profile and Varoufakis's highly compelling skills as a speaker.
“He was, truthfully, more like a personality and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives which included advancing his publications and experimenting with his own theories using Greece instead of truly advocating the country's economic stability.
He explained how those negotiations to stave off insolvency were “not only a way of achieving improved terms for Greece. They became a test, a monumental chance to prove the truth of his theories.”
High-Stakes Talks
During tense discussions, Greece found itself perilously on the brink of leaving the eurozone.
On the line lay both Greece's destiny and those harsh cutbacks required in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a popular referendum, a move that threw the EU into further existential crisis.
Although the referendum was carried decisively by those against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for a deal that required complex and sensitive management.”
Tsipras further wrote how his confrontational approach left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
