Within his newly released memoir, named Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic era during Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's account, he chose that maverick academic Varoufakis to be the finance minister largely due to his worldwide fame along with Varoufakis's very persuasive skills when it came to communicator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras claims that his finance chief possessed his own motives which involved promoting Varoufakis's publications as well as experimenting with his own economic models using the nation rather than truly fighting for its economic stability.
Tsipras wrote that the talks to stave off bankruptcy became “not just a way to secure a better deal for the country. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During tense discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was both Greece's future but also the harsh austerity measures required in exchange for rescue loans by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a bailout package with creditors which proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras concludes how his former ally demonstrated himself “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of events has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
