In a newly released memoir, named Ithaki, the former leader Tsipras spares no criticism as he reflects on the chaotic period of Greece's financial crisis.
A Controversial Appointment
As per the ex-PM's account, he selected the maverick academic Varoufakis as the finance minister largely due to his worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“He was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own agenda that involved promoting his books as well as experimenting with his economic models on the nation rather than truly advocating the country's economic stability.
Tsipras noted that those talks to stave off bankruptcy were “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During tense discussions, the country came perilously close to leaving the eurozone.
At stake was both Greece's future and the severe cutbacks demanded in return for rescue loans from foreign lenders.
Unsuccessful Options
Attempts to find funds elsewhere, including a desperate appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those harsh bailout terms were put to a public vote, an action which threw the EU into a deeper crisis of identity.
Even though the referendum was carried resoundingly by voters against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included establishing a secondary currency and issuing coupons to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Enduring Criticism
In the memoir, the author concludes how Varoufakis demonstrated himself “unfit for an agreement demanding complex and delicate management.”
He also claimed that his confrontational style made him more and more alone with colleagues, put Greece at risk, while helped hawks that were advocating Grexit.
This retelling of history has been met with anger along with shock among certain groups, while the former minister has kept a deafening silence on the matter.
