Within his newly released personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits the turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he appointed that maverick academic Varoufakis to be his finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a star rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims that Varoufakis had his own motives that involved promoting Varoufakis's publications and testing out his own economic models using the nation rather than genuinely advocating the country's economic stability.
Tsipras noted that those talks to avoid bankruptcy were “not only a way of achieving improved terms for the country. They were an experiment, an historic opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously close to leaving the eurozone.
On the line was not only Greece's future and the punishing austerity policies demanded in return for financial aid by international creditors.
Failed Options
Attempts to secure funds from other sources, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were put to a popular referendum, a move that threw the EU into deeper existential crisis.
Even though the referendum was won decisively by those against the cuts, Tsipras had little option but to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author concludes how his former ally demonstrated himself to be “unsuitable for a deal demanding intricate and delicate management.”
He further wrote that Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.
This retelling of events has been met with fury along with stunned disbelief among certain groups, whereas the former minister has kept a conspicuous quiet on the matter.
