Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on that chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, Tsipras appointed that maverick economist Varoufakis as the treasury head mainly due to the latter's international reputation and his very persuasive abilities when it came to speaker.
“In reality, he was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that Varoufakis had a personal agenda which included promoting his books as well as experimenting with his own economic models using the nation rather than genuinely fighting for its economic stability.
Tsipras noted that the discussions to avoid bankruptcy became “not only a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of his ideas.”
Critical Talks
During volatile negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both the country's destiny and the harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure funds from other sources, such as a desperate plea to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum and Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which plunged Europe into deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
He also wrote how his aggressive approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with anger along with shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
