Within his recently unveiled personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he examines that turbulent era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he appointed that unorthodox economist Varoufakis as his treasury head primarily due to the latter's international reputation and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more of a personality rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader claims how his finance chief had his own agenda that included advancing his publications and testing out his own theories using Greece instead of genuinely advocating its financial survival.
He wrote how the negotiations to prevent bankruptcy were “not only a way of achieving improved terms for Greece. They were an experiment, a monumental chance to prove the truth of his economic theories.”
Critical Talks
During tense discussions, Greece found itself perilously close to exiting the eurozone.
At stake lay both the country's destiny and those harsh austerity measures demanded in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to find funds from other sources, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, the punitive bailout terms were subjected to a popular referendum, an action which plunged the EU into a deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, the prime minister had little option to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … it seemed he relished his new role.”
After the minister outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet on the matter.
