In a freshly published memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the unorthodox economist Varoufakis as his finance minister mainly due to the latter's international reputation along with Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal motives that included advancing his publications as well as testing out his own theories using Greece rather than truly advocating its economic stability.
Tsipras noted how those discussions to avoid insolvency became “not just a way to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Talks
Amid volatile negotiations, Greece came perilously close to leaving the eurozone.
At stake lay both the country's future but also the severe cutbacks required in return for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those punitive conditions were subjected to a public vote, an action that threw Europe into further existential crisis.
Even though the vote was won decisively by those against austerity, the prime minister had little option but to reject its outcome then agree to a rescue deal with creditors that turned out to be even harsher.
Breaking Point
Tsipras claimed how he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and issuing coupons to pensioners, the leader knew it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also claimed that his confrontational style left him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for a Greek exit from the euro.
The account of events has provoked anger along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
