In a recently unveiled memoir, named Ithaki, the former premier Tsipras spares no criticism while he reflects on the chaotic era of Greece's debt drama.
A Controversial Appointment
In Tsipras's recollections, he selected that maverick academic Varoufakis as his treasury head primarily because of his international reputation along with Varoufakis's highly compelling skills as a communicator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that his finance chief had his own motives that involved advancing Varoufakis's publications as well as testing out his own economic models using the nation instead of genuinely fighting for the country's financial survival.
Tsipras wrote how those talks to avoid bankruptcy became “not just a method of achieving a better deal for the country. They became an experiment, a monumental chance to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also those harsh cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Even though the vote was won resoundingly by those against the cuts, the prime minister was forced but to ignore the result and agree to a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished his new role.”
When Varoufakis outlined a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
Within the book, Tsipras concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and delicate management.”
He also wrote that his aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has so far kept a deafening silence on the matter.
