In a recently unveiled personal account, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as his treasury head mainly due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives that included promoting Varoufakis's books and testing out his game theories on the nation instead of genuinely advocating its economic stability.
Tsipras wrote that the talks to avoid insolvency were “not just a method to secure improved terms for the country. They were a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During tense negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay both Greece's destiny and those severe austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive bailout terms were put to a popular referendum, a move that threw Europe into further existential crisis.
Even though the referendum was won decisively by those who opposed the cuts, Tsipras was forced to ignore the result and agree to a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, Tsipras knew it was the end and asked him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This retelling of history has provoked fury and shock in some quarters, while Varoufakis has maintained a deafening silence on the matter.
