Within his freshly published autobiography, called Ithaki, the ex- premier Tsipras spares no criticism while he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, he appointed the maverick economist Varoufakis to be the treasury head mainly due to his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had his own agenda that included promoting Varoufakis's books and testing out his own game theories on the nation instead of truly advocating the country's economic stability.
He explained that the talks to avoid insolvency became “not just a way to secure improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
At stake was both Greece's destiny and those punishing austerity measures required in return for rescue loans by foreign lenders.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek government bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive bailout terms were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister was forced but to ignore the result and agree to a bailout package from creditors that turned out to be tougher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, the leader knew it was game over questioning Varoufakis: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive management.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of history has provoked anger along with shock among certain groups, whereas the former minister has kept a deafening silence regarding these claims.
