Within his newly released personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the chaotic era of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's recollections, he appointed the unorthodox economist Varoufakis to be his treasury head mainly because of his worldwide fame along with his highly compelling skills as a communicator.
“In reality, he was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief had a personal motives which involved promoting Varoufakis's publications and experimenting with his own theories on the nation rather than truly fighting for its financial survival.
He explained how those talks to stave off bankruptcy were “not only a method to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake was both the country's future but also the punishing austerity policies demanded in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the referendum was won decisively by voters against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of publications globally … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing vouchers to retirees, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
He also wrote that his confrontational style left him more and more alone with colleagues, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
This retelling of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has maintained a deafening silence on the matter.
