In a freshly published memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he examines the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's account, Tsipras selected that unorthodox economist Varoufakis to be his finance minister mainly due to his global profile along with his highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis possessed a personal agenda which included advancing his publications as well as testing out his own economic models using Greece rather than genuinely fighting for the country's economic stability.
Tsipras noted that those negotiations to avoid insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, Greece came perilously close to exiting the single currency area.
At stake was both the country's destiny and the harsh cutbacks demanded in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh conditions were put to a public vote, an action which plunged the EU into a deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister was forced to reject its outcome then negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing vouchers to retirees, the leader said he realised that it was game over questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and sensitive handling.”
He also claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
