Within his freshly published autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism while he reflects on that turbulent period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's version, he appointed that maverick academic Varoufakis to be his treasury head primarily because of his international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief had his own motives which included promoting his publications and experimenting with his theories using the nation rather than genuinely advocating the country's financial survival.
He wrote how the talks to stave off insolvency became “not just a method to secure improved terms for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also the punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, a move which plunged Europe into a further existential crisis.
Even though the vote was carried decisively by voters against austerity, Tsipras had little option but to ignore the result then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy that included creating a parallel currency and distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally demonstrated himself “unfit for a deal that required intricate and delicate management.”
He also claimed that his confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
