In a recently unveiled personal account, titled Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic era of Greece's financial crisis.
An Unconventional Choice
In Tsipras's account, Tsipras selected the unorthodox economist Varoufakis to be his finance minister largely because of the latter's international reputation along with Varoufakis's highly compelling abilities as a public orator.
“In reality, he was, actually, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests that his finance chief possessed his own agenda which involved advancing his publications and experimenting with his economic models on Greece rather than genuinely advocating the country's financial survival.
Tsipras explained how those negotiations to prevent insolvency became “not only a method to secure improved terms for Greece. They became an experiment, a monumental chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also the harsh austerity policies required in exchange for bailout funds from international creditors.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by those who opposed austerity, Tsipras was forced to ignore the result then negotiate a bailout package with foreign lenders that turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the covers of publications globally … it seemed he relished his new role.”
After Varoufakis outlined a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras concludes how his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He further wrote how his confrontational style made him more and more alone among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has provoked fury and stunned disbelief in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
