In a freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the turbulent period during Greece's debt drama.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that maverick economist Varoufakis to be the treasury head mainly due to his worldwide fame and his “extremely attractive” skills as a speaker.
“He was, actually, more of a star and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis possessed his own agenda that included promoting Varoufakis's books as well as experimenting with his theories using the nation instead of truly advocating its financial survival.
He wrote how those talks to stave off bankruptcy were “not only a method to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, the country came dangerously close to exiting the eurozone.
On the line lay not only the country's destiny and the punishing austerity policies demanded in exchange for bailout funds by international creditors.
Unsuccessful Alternatives
Efforts to find financing 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, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were subjected to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras was forced but to ignore the result then agree to a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a parallel currency as well as distributing coupons to pensioners, the leader said he realised it was the end questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of events has provoked anger and shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
