Within his newly released personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits the chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's version, Tsipras appointed that unorthodox economist Varoufakis to be his treasury head mainly due to the latter's international reputation along with his highly compelling skills when it came to communicator.
“He was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
The former leader alleges how Varoufakis possessed his own agenda that involved promoting Varoufakis's publications as well as experimenting with his own theories using the nation instead of genuinely fighting for its economic stability.
He noted that the discussions to prevent insolvency became “not just a way to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of his theories.”
Critical Talks
Amid volatile negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny but also those punishing austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those punitive conditions were put to a public vote, an action which plunged Europe into deeper crisis of identity.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal demanding complex and sensitive management.”
Tsipras also claimed that Varoufakis's aggressive approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This account of events has been met with fury and shock among certain groups, while Varoufakis has kept a conspicuous quiet on the matter.
