In a recently unveiled memoir, named Ithaki, the ex- leader Tsipras does not hold back while he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, he selected that unorthodox economist Varoufakis to be his treasury head mainly due to his international reputation and his “extremely attractive” skills when it came to public orator.
“In reality, he was, in reality, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had his own motives which included promoting his books as well as testing out his own economic models on Greece instead of genuinely fighting for its financial survival.
Tsipras noted how those talks to prevent bankruptcy became “not only a method of achieving improved terms for Greece. They were a test, an historic opportunity to prove the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile discussions, the country came perilously on the brink of exiting the eurozone.
On the line was both the country's future and the punishing cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to find financing from other sources, such as a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which threw Europe into further existential crisis.
Even though the vote was won decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency and distributing vouchers to pensioners, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate management.”
He further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hawks who were pushing for a Greek exit from the euro.
The retelling of events has been met with anger along with shock in some quarters, while the former minister has so far kept a conspicuous quiet on the matter.
