In a newly released personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent era during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras chose that maverick economist Varoufakis as the treasury head primarily because of his global profile along with his highly compelling skills when it came to communicator.
“He was, truthfully, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras suggests that Varoufakis had a personal agenda that involved advancing Varoufakis's books as well as testing out his own theories using the nation rather than truly advocating the country's financial survival.
Tsipras explained that those talks to prevent insolvency were “not only a method to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was both Greece's future but also those punishing austerity measures required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and U-Turn
That summer, those excoriating conditions were put to a popular referendum, an action that threw Europe into further existential crisis.
Although the referendum was carried decisively by those against the cuts, the prime minister had little option but to ignore the result then agree to a bailout package from foreign lenders that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who appeared on the front pages of magazines the world over … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts that his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational approach left him increasingly isolated among peers, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
