Within his newly released memoir, titled Ithaki, the former premier Tsipras spares no criticism while he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, Tsipras chose that maverick academic Varoufakis to be the finance minister primarily due to the latter's global profile along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, actually, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal motives that included advancing his books as well as experimenting with his theories using the nation instead of genuinely fighting for its financial survival.
He wrote that the discussions to avoid insolvency became “not only a method to secure improved terms for the country. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece came dangerously close to leaving the single currency area.
At stake was both Greece's future but also those severe austerity measures required in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which threw the EU into a deeper crisis of identity.
Although the vote was won decisively by voters who opposed austerity, Tsipras was forced to ignore the result and agree to a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis relatively soon.
“He was the face of negotiation, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate management.”
He also claimed that his confrontational style made him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for Grexit.
The account of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
