In a recently unveiled autobiography, titled Ithaki, the former premier Tsipras spares no criticism while he reflects on the chaotic period during Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, he appointed that unorthodox economist Varoufakis as his finance minister largely due to the latter's worldwide fame and his highly compelling skills as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests how Varoufakis possessed a personal motives which involved advancing his books and testing out his economic models on Greece rather than truly fighting for its financial survival.
He wrote that those discussions to stave off insolvency were “not only a method of achieving improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid volatile discussions, Greece came perilously on the brink of leaving the single currency area.
On the line lay not only Greece's destiny and the severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including a desperate appeal to Russia to buy Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those punitive bailout terms were put to a public vote, a move that threw the EU into further existential crisis.
Although the vote was won resoundingly by those against austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the man who attracted publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally had proved himself “unfit for a deal that required intricate and delicate management.”
Tsipras further wrote how his aggressive approach made him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating Grexit.
The retelling of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a conspicuous quiet on the matter.
