Within his freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's version, Tsipras chose that maverick economist Varoufakis as the finance minister mainly because of the latter's worldwide fame and his “extremely attractive” abilities as a public orator.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own agenda which included promoting his publications and experimenting with his theories using the nation rather than genuinely advocating its financial survival.
He noted that those discussions to prevent bankruptcy became “not just a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself perilously close to exiting the eurozone.
On the line lay not only the country's destiny but also the severe cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, the punitive conditions were put to a popular referendum, a move which threw Europe into further crisis of identity.
Although the vote was carried resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras knew it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes that Varoufakis demonstrated himself to be “unfit for a deal that required intricate and delicate management.”
He further claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
The account of history has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
