In a freshly published personal account, called Ithaki, the former prime minister Tsipras spares no criticism as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis to be the treasury head mainly due to his worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis had his own agenda which involved advancing his publications as well as experimenting with his economic models on Greece rather than genuinely advocating the country's economic stability.
Tsipras noted how the discussions to stave off bankruptcy were “not just a method of achieving a better deal for Greece. They became an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake was not only Greece's destiny but also those harsh austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash 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 public vote, a move which threw the EU into further crisis of identity.
Although the referendum was won resoundingly by those against austerity, the prime minister had little option but to ignore the result then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
He also wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet regarding these claims.
