Within his freshly published memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's account, he selected that maverick economist Varoufakis to be his finance minister largely because of the latter's international reputation along with his highly compelling skills as a public orator.
“He was, actually, more of a personality rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed a personal agenda that included promoting his books and testing out his own economic models on the nation rather than genuinely advocating its financial survival.
He explained that those negotiations to stave off bankruptcy were “not just a method to secure a better deal for the country. They were a test, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
On the line lay both the country's future and those harsh austerity policies demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a public vote, a move that threw the EU into a further existential crisis.
Even though the referendum was carried decisively by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a bailout package with creditors that turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Lasting Criticism
In the book, the author concludes that his former ally demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras also wrote how his aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of events has been met with fury along with shock among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
