Within his freshly published memoir, titled Ithaki, the former leader Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's version, he chose that unorthodox academic Varoufakis as the treasury head largely because of the latter's worldwide fame and his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal motives which involved promoting Varoufakis's publications as well as experimenting with his game theories on the nation rather than truly fighting for the country's economic stability.
Tsipras noted how the negotiations to stave off insolvency became “not only a method to secure improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of exiting the eurozone.
At stake was not only the country's future but also those punishing austerity policies demanded in return for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing from other sources, such as a desperate appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were subjected to a public vote, a move that threw the EU into deeper existential crisis.
Even though the referendum was carried decisively by voters against the cuts, the prime minister had little option but to reject its outcome then negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing coupons to retirees, Tsipras knew that it was game over and asked him: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
