In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he examines that turbulent period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, he selected that maverick academic Varoufakis as the treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims how his finance chief had his own agenda that involved advancing his books and experimenting with his own theories using Greece instead of truly advocating its financial survival.
He noted how the discussions to stave off bankruptcy were “not just a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece found itself dangerously on the brink of leaving the eurozone.
At stake lay both Greece's destiny and those punishing austerity policies required in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive bailout terms were subjected to a popular referendum, an action that plunged Europe into a deeper existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result and agree to a bailout package from creditors which turned out to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was game over questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He also wrote that his aggressive approach made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock among certain groups, while the former minister has maintained a conspicuous quiet regarding these claims.
