In a freshly published autobiography, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic era of Greece's economic turmoil.
An Unconventional Appointment
According to Tsipras's recollections, he appointed the unorthodox economist Varoufakis to be his treasury head mainly due to the latter's international reputation along with his highly compelling skills as a communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis had his own motives which involved promoting Varoufakis's publications and experimenting with his own theories using Greece instead of truly fighting for the country's financial survival.
He wrote how those negotiations to prevent insolvency became “not only a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of his theories.”
Critical Talks
Amid rollercoaster discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line was both Greece's destiny but also those harsh austerity policies required in exchange for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
That summer, the excoriating bailout terms were subjected to a popular referendum, a move which threw Europe into a deeper existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package with creditors which proved to be tougher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive handling.”
He further claimed how Varoufakis's aggressive style left him more and more alone among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The account of events has been met with anger and shock in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
