Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he examines the chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's recollections, he appointed the unorthodox academic Varoufakis as his finance minister mainly due to the latter's worldwide fame along with his very persuasive skills as a public orator.
“He was, in reality, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief possessed a personal agenda which included advancing Varoufakis's books and testing out his game theories on the nation instead of truly advocating the country's economic stability.
He wrote how those talks to avoid insolvency became “not just a method to secure a better deal for Greece. They became a test, an historic chance to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, Greece found itself perilously on the brink of exiting the single currency area.
On the line was not only the country's destiny and those harsh austerity measures demanded in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the punitive conditions were subjected to a public vote, a move which plunged the EU into a deeper crisis of identity.
Even though the vote was won resoundingly by voters against austerity, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him increasingly isolated among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The retelling of events has provoked fury along with shock in some quarters, whereas Varoufakis has kept a conspicuous quiet on the matter.
