Within his recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, Tsipras chose that unorthodox economist Varoufakis to be the treasury head largely due to his international reputation and his “extremely attractive” abilities as a communicator.
“He was, actually, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Priorities
The former leader claims that his finance chief possessed a personal agenda which included promoting Varoufakis's publications and experimenting with his theories on the nation instead of genuinely fighting for the country's economic stability.
He explained that those discussions to avoid bankruptcy became “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
During volatile discussions, the country came dangerously on the brink of leaving the eurozone.
On the line was not only the country's future but also the punishing austerity policies demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, the harsh bailout terms were subjected to a public vote, a move which threw Europe into further crisis of identity.
Although the referendum was carried decisively by those against austerity, Tsipras had little option to reject its outcome then agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he was enjoying his new role.”
After Varoufakis proposed a contingency plan that included establishing a secondary currency and issuing vouchers to retirees, the leader knew it was the end questioning him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement that required complex and delicate management.”
He further wrote how his aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
