Within his newly released memoir, called Ithaki, the former premier Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
An Unconventional Choice
As per Tsipras's account, he chose that unorthodox academic Varoufakis as his treasury head mainly because of his global profile and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a personality and less of an economist,” recalled the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis had a personal motives which included advancing Varoufakis's books and experimenting with his own theories using the nation instead of truly fighting for its financial survival.
He wrote that the negotiations to avoid bankruptcy became “not only a way to secure a better deal for the country. They became an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Talks
During rollercoaster discussions, Greece came perilously close to leaving the single currency area.
On the line was not only Greece's destiny but also the punishing austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, were rejected.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Although the referendum was carried decisively by those against the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors which proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were advocating Grexit.
The retelling of history has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
