Within his freshly published memoir, named Ithaki, the former leader Tsipras does not hold back as he revisits that turbulent era of Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his finance minister largely due to his worldwide fame along with his “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that his finance chief had a personal agenda that involved advancing Varoufakis's books as well as experimenting with his own economic models using the nation rather than truly advocating the country's financial survival.
He noted that those negotiations to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile discussions, Greece came perilously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also those harsh cutbacks demanded in exchange for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, such as a desperate plea to Russia to buy Greek bonds, were rejected.
Helping the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, those harsh bailout terms were put to a public vote, a move that plunged the EU into a further crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister was forced to reject its outcome then agree to a bailout package with creditors which turned out to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and issuing vouchers to retirees, the leader knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how his confrontational approach left him more and more alone among peers, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of events has been met with anger along with shock in some quarters, whereas the former minister has kept a deafening silence regarding these claims.
