In a newly released autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that chaotic era during Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's account, he selected that maverick economist Varoufakis as his treasury head primarily because of the latter's international reputation and his “extremely attractive” skills as a speaker.
“He was, in reality, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis possessed his own agenda which involved promoting Varoufakis's books as well as testing out his own economic models using the nation instead of truly advocating its economic stability.
He wrote that the negotiations to prevent bankruptcy became “not only a way of achieving improved terms for the country. They became a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only Greece's future and the punishing austerity policies required in return for bailout funds from international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those harsh conditions were subjected to a public vote, an action which plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, and helped hardliners that were advocating Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
