In a newly released memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits the chaotic period during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's account, Tsipras appointed the maverick economist Varoufakis to be the finance minister mainly because of his worldwide fame along with Varoufakis's very persuasive abilities as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economist,” stated Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own agenda which involved advancing Varoufakis's books as well as experimenting with his own theories using Greece rather than genuinely advocating the country's financial survival.
He wrote that those negotiations to avoid insolvency were “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, the country came dangerously close to exiting the eurozone.
On the line lay both the country's destiny and those punishing cutbacks demanded in exchange for financial aid by international creditors.
Failed Options
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece was equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, an action which plunged Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to ignore the result and negotiate a bailout package with foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also wrote that his aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
