Within his freshly published memoir, called Ithaki, the ex- leader Tsipras pulls no punches while he revisits that turbulent period of Greece's financial crisis.
A Controversial Choice
According to the ex-PM's version, he selected the unorthodox academic Varoufakis to be the finance minister mainly due to his international reputation and his “extremely attractive” skills when it came to public orator.
“He was, in reality, more like a celebrity rather than an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief possessed his own agenda which included promoting Varoufakis's publications as well as testing out his own theories using the nation rather than truly fighting for the country's economic stability.
Tsipras wrote that those talks to avoid bankruptcy became “not only a method to secure a better deal for the country. They were a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, Greece came perilously on the brink of leaving the eurozone.
At stake was not only Greece's future but also those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh bailout terms were put to a popular referendum, a move that plunged Europe into a further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, Tsipras had little option but to ignore the result then negotiate a rescue deal with foreign lenders that proved to be more severe.
Breaking Point
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal that required intricate and sensitive management.”
He further wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, endangered the country, and helped hardliners who were advocating Grexit.
This retelling of events has provoked fury and stunned disbelief in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
