In a newly released personal account, titled Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that chaotic era of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's version, he appointed that maverick economist Varoufakis to be the finance minister largely because of the latter's international reputation along with his “extremely attractive” skills when it came to communicator.
“In reality, he was, actually, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests how his finance chief had a personal agenda that involved promoting his publications as well as testing out his own economic models on the nation instead of truly fighting for the country's economic stability.
He explained how the talks to avoid bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
During volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's future but also those punishing austerity measures demanded in return for financial aid by international creditors.
Failed Alternatives
Attempts to secure financing elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action that threw the EU into further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who attracted publicity, who appeared on the covers of publications the world over … it seemed he relished the spotlight.”
When Varoufakis proposed a contingency plan that included creating a secondary currency and distributing vouchers to retirees, Tsipras knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive management.”
He also wrote how Varoufakis's aggressive approach made him increasingly isolated among peers, endangered the country, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet regarding these claims.
