Within his freshly published personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, Tsipras chose that maverick economist Varoufakis as the treasury head largely because of his international reputation along with Varoufakis's “extremely attractive” skills as a communicator.
“He was, actually, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Agendas
Tsipras claims how his finance chief had a personal agenda which included promoting Varoufakis's books as well as experimenting with his economic models on the nation instead of truly advocating its financial survival.
He wrote that the negotiations to stave off bankruptcy became “not only a method of achieving improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
During rollercoaster negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only the country's destiny and those harsh cutbacks required in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and U-Turn
That summer, the excoriating bailout terms were put to a popular referendum, a move which plunged the EU into further existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras was forced to ignore the result and agree to a rescue deal with creditors that proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy involving creating a parallel currency as well as distributing coupons to retirees, the leader knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unsuitable for a deal demanding intricate and sensitive management.”
Tsipras further wrote how Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
This retelling of history has provoked fury and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
