In a freshly published autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic period of Greece's debt drama.
An Unconventional Appointment
As per the ex-PM's recollections, Tsipras appointed that unorthodox economist Varoufakis as the finance minister mainly because of his global profile along with Varoufakis's “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras alleges that Varoufakis possessed his own agenda which included promoting Varoufakis's books and testing out his economic models using the nation instead of truly fighting for the country's financial survival.
He wrote that those discussions to avoid insolvency became “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Talks
During volatile discussions, the country came perilously close to exiting the single currency area.
At stake lay not only the country's future but also the punishing austerity measures demanded in exchange for financial aid by foreign lenders.
Failed Options
Attempts to secure financing elsewhere, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the vote was carried resoundingly by those against the cuts, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and distributing coupons to retirees, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for an agreement that required complex and sensitive management.”
Tsipras further wrote how Varoufakis's confrontational style made him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
