In a newly released autobiography, named Ithaki, the ex- leader Tsipras spares no criticism while he revisits that chaotic era during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, Tsipras appointed that maverick academic Varoufakis to be his treasury head mainly because of the latter's worldwide fame and his “extremely attractive” abilities as a speaker.
“He was, in reality, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief possessed his own agenda which involved promoting Varoufakis's books and experimenting with his theories on Greece rather than truly advocating the country's economic stability.
He noted how those negotiations to avoid insolvency were “not just a way to secure improved terms for the country. They were a test, an historic chance to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile discussions, Greece came perilously close to leaving the eurozone.
At stake was not only the country's destiny and the punishing austerity measures demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras had little option to ignore the result then agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included establishing a parallel currency and distributing coupons to retirees, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, the author asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also claimed that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with shock in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
