In a recently unveiled personal account, named Ithaki, the former premier Tsipras pulls no punches while he reflects on that chaotic period of Greece's debt drama.
A Controversial Appointment
According to the ex-PM's account, Tsipras chose that maverick economist Varoufakis to be his treasury head largely because of his worldwide fame along with his highly compelling abilities when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Agendas
The former leader alleges that Varoufakis had his own motives that involved promoting his publications and experimenting with his own game theories on Greece rather than genuinely fighting for the country's economic stability.
He noted that the negotiations to prevent insolvency were “not only a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously on the brink of leaving the eurozone.
At stake lay both Greece's destiny and the harsh cutbacks required in return for financial aid from international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those excoriating conditions were put to a public vote, a move which threw Europe into further crisis of identity.
Although the referendum was won resoundingly by those who opposed austerity, the prime minister was forced but to reject its outcome and agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM claimed that he started questioning his finance minister quite early on.
“He was the face of the talks, the figure who drew publicity, who graced the front pages of publications globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included creating a parallel currency and issuing coupons to retirees, the leader said he realised it was game over questioning him: “Is this for real?”
Enduring Criticism
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal that required complex and delicate management.”
He further wrote how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
