In a recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis to be the treasury head largely due to his worldwide fame along with Varoufakis's highly compelling abilities as a communicator.
“In reality, he was, in reality, more like a star and less of an economist,” recalled Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own agenda that involved advancing his books as well as testing out his theories using Greece instead of truly advocating its economic stability.
Tsipras explained how the discussions to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They became a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
During volatile negotiations, Greece found itself perilously on the brink of exiting the eurozone.
On the line was both the country's future and those punishing austerity policies demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package with creditors that proved to be more severe.
Final Straw
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan that included creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis had proved himself “unfit for an agreement that required complex and sensitive handling.”
Tsipras also wrote how his confrontational style left him more and more alone among peers, endangered the country, and assisted hawks that were pushing for Grexit.
This retelling of events has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
