Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, he appointed that unorthodox academic Varoufakis to be the treasury head largely due to the latter's global profile along with Varoufakis's highly compelling skills as a communicator.
“In reality, he was, actually, more of a star and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader alleges how his finance chief had his own agenda that involved advancing Varoufakis's publications and experimenting with his own game theories on Greece rather than truly advocating the country's financial survival.
He explained that those negotiations to avoid bankruptcy were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile discussions, the country came dangerously close to leaving the single currency area.
On the line was both Greece's future but also the harsh cutbacks demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to secure funds elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating bailout terms were put to a public vote, a move that plunged the EU into a deeper crisis of identity.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with creditors which turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to retirees, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also claimed that his aggressive approach made him more and more alone with colleagues, endangered the country, while helped hawks who were advocating a Greek exit from the euro.
The account of history has provoked fury and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
