In a newly released memoir, called Ithaki, the former premier Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his treasury head mainly because of his worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, in reality, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal agenda that involved advancing Varoufakis's publications and experimenting with his game theories using Greece instead of truly advocating its economic stability.
He explained that the negotiations to avoid insolvency became “not only a way to secure improved terms for Greece. They became a test, an historic chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
During rollercoaster negotiations, Greece found itself dangerously close to exiting the eurozone.
On the line lay both the country's destiny and those harsh austerity policies demanded in return for bailout funds by international creditors.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, an action that threw the EU into further crisis of identity.
Although the vote was won resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement demanding complex and delicate management.”
He also wrote that his confrontational approach made him more and more alone among peers, put Greece at risk, and helped hawks who were advocating Grexit.
The retelling of events has been met with fury and shock among certain groups, whereas the former minister has kept a deafening silence on the matter.
