In a recently unveiled autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that turbulent era of Greece's debt drama.
A Controversial Appointment
In the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis as the treasury head primarily due to the latter's global profile along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a star rather than an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief had his own motives which included promoting his books and experimenting with his economic models using Greece instead of genuinely fighting for its financial survival.
He explained how the talks to prevent insolvency became “not only a way to secure a better deal for the country. They became a test, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid tense discussions, the country found itself dangerously on the brink of leaving the single currency area.
On the line lay both the country's future and the severe austerity measures demanded in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Referendum and Reversal
That summer, those punitive conditions were put to a public vote, an action that threw the EU into deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras was forced but to reject its outcome and agree to a rescue deal with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the book, the author concludes how his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him more and more alone among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of events has provoked anger along with shock in some quarters, whereas the former minister has maintained a deafening silence on the matter.
