In a freshly published personal account, named Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent era during Greece's financial crisis.
A Controversial Choice
According to the ex-PM's account, Tsipras selected the maverick academic Varoufakis as his finance minister primarily because of the latter's worldwide fame along with his “extremely attractive” abilities as a communicator.
“In reality, he was, in reality, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how his finance chief had a personal motives that involved advancing his books and experimenting with his theories using Greece instead of truly fighting for its financial survival.
He wrote how those discussions to prevent bankruptcy were “not just a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid tense discussions, the country found itself dangerously close to leaving the single currency area.
On the line was not only Greece's future but also the punishing austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were put to a popular referendum, a move which threw the EU into a deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, Tsipras was forced to ignore the result then agree to a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and issuing coupons to pensioners, the leader knew it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked fury and stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
