In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent period of Greece's debt drama.
An Unconventional Choice
In the ex-PM's version, Tsipras chose the maverick economist Varoufakis to be the treasury head primarily because of the latter's international reputation along with Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a star rather than an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed a personal motives which included promoting Varoufakis's publications as well as testing out his own theories on the nation instead of truly advocating its economic stability.
Tsipras noted how the discussions to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his theories.”
Critical Talks
Amid volatile discussions, the country found itself perilously on the brink of exiting the single currency area.
On the line was both Greece's future but also the punishing cutbacks required in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the excoriating conditions were put to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to ignore the result and negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and sensitive management.”
He also claimed how his aggressive style left him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, while the former minister has kept a conspicuous quiet on the matter.
