Within his freshly published autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism as he revisits the chaotic period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, he chose that maverick economist Varoufakis to be his finance minister primarily because of his international reputation and Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved promoting his books as well as experimenting with his game theories using Greece rather than truly fighting for the country's economic stability.
He noted that those negotiations to avoid bankruptcy were “not only a way of achieving improved terms for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously close to exiting the eurozone.
On the line lay not only the country's future and the punishing austerity policies required in return for financial aid by foreign lenders.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were put to a public vote, an action that threw the EU into further existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister was forced but to ignore the result then negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, the leader said he realised that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive handling.”
Tsipras also wrote how his confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The retelling of events has been met with fury and shock among certain groups, while the former minister has so far maintained a conspicuous quiet on the matter.
