In a freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits the turbulent era of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's account, Tsipras selected the unorthodox academic Varoufakis as the finance minister primarily because of his international reputation and Varoufakis's very persuasive skills as a communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda which included promoting Varoufakis's publications and testing out his game theories using the nation rather than truly fighting for its financial survival.
Tsipras explained how the discussions to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster discussions, the country came perilously close to leaving the single currency area.
On the line was not only Greece's destiny and those punishing austerity measures demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Options
Efforts to find funds from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
That summer, those excoriating conditions were subjected to a public vote, an action which threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, the prime minister was forced to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing vouchers to retirees, the leader knew that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, and assisted hawks that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
