In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent era during Greece's debt drama.
An Unconventional Choice
As per the ex-PM's version, Tsipras chose the maverick academic Varoufakis to be his treasury head mainly due to his worldwide fame along with his very persuasive abilities as a public orator.
“He was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own agenda that included advancing his books and experimenting with his own economic models using the nation instead of genuinely advocating its economic stability.
Tsipras wrote that the discussions to stave off insolvency were “not only a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay both the country's future and those punishing austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action that threw Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of publications the world over … it seemed he relished the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras knew that it was game over questioning him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author concludes that his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate handling.”
He also claimed that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
