In a newly released memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, Tsipras chose that maverick economist Varoufakis to be his treasury head primarily because of the latter's worldwide fame and his highly compelling abilities when it came to communicator.
“He was, in reality, more of a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis possessed a personal agenda which included advancing Varoufakis's books as well as experimenting with his game theories using Greece instead of truly fighting for its financial survival.
Tsipras noted how the discussions to avoid bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself perilously close to leaving the eurozone.
At stake lay both the country's future but also the harsh austerity measures required in return for financial aid from international creditors.
Failed Options
Attempts to secure funds elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, the harsh conditions were put to a popular referendum, a move which plunged the EU into deeper existential crisis.
Even though the vote was carried decisively by those against austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal with foreign lenders which turned out to be even harsher.
Breaking Point
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author asserts how his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
He further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
