In a freshly published autobiography, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits the turbulent era during Greece's economic turmoil.
A Controversial Choice
In the ex-PM's recollections, he chose the maverick academic Varoufakis to be his treasury head mainly due to the latter's international reputation along with his very persuasive skills as a communicator.
“He was, in reality, more of a personality and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims that his finance chief had his own motives that included promoting Varoufakis's publications and testing out his own theories on Greece rather than truly fighting for its economic stability.
Tsipras noted how those negotiations to prevent insolvency became “not only a method of achieving a better deal for the country. They were an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Talks
During volatile discussions, the country found itself perilously close to leaving the single currency area.
On the line lay both the country's future and those harsh austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, a move that threw the EU into further crisis of identity.
Although the referendum was won decisively by voters against the cuts, the prime minister was forced but to ignore the result and negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal that required intricate and delicate management.”
Tsipras also claimed how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and shock among certain groups, whereas Varoufakis has maintained a conspicuous quiet on the matter.
