In a freshly published personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that turbulent period of Greece's financial crisis.
A Controversial Choice
In the ex-PM's account, he selected that maverick economist Varoufakis as his treasury head primarily because of his global profile and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a celebrity and less of an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader claims that his finance chief possessed his own motives which involved promoting his publications as well as testing out his own theories using the nation rather than truly advocating the country's economic stability.
Tsipras noted how the negotiations to stave off bankruptcy were “not just a way of achieving a better deal for Greece. They were an experiment, a monumental chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the eurozone.
At stake lay both Greece's destiny but also the harsh cutbacks demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find funds from other sources, including a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were subjected to a popular referendum, a move that plunged Europe into further crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras had little option to ignore the result and negotiate a rescue deal from foreign lenders which proved to be tougher.
Final Straw
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the book, the author concludes how Varoufakis had proved himself to be “unsuitable for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hawks who were advocating Grexit.
This account of events has provoked fury along with stunned disbelief among certain groups, while Varoufakis has kept a conspicuous quiet regarding these claims.
