In a newly released memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he appointed that unorthodox economist Varoufakis to be his treasury head mainly because of the latter's global profile and Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader claims that Varoufakis possessed his own agenda that included promoting his books and experimenting with his own economic models on Greece rather than truly fighting for the country's financial survival.
He explained that those talks to prevent bankruptcy were “not just a method to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
During tense negotiations, Greece came perilously close to leaving the eurozone.
On the line lay both Greece's destiny but also the harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, including an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Although the referendum was won decisively by those against the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package from creditors that turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a secondary currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and sensitive management.”
He further wrote that Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
