Within his freshly published autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Choice
In Tsipras's recollections, Tsipras selected that unorthodox economist Varoufakis as the treasury head mainly because of his international reputation along with his “extremely attractive” skills when it came to public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader suggests that Varoufakis possessed a personal motives which involved promoting Varoufakis's books and experimenting with his own game theories using Greece rather than truly advocating the country's financial survival.
He wrote how those negotiations to prevent insolvency became “not just a method of achieving a better deal for the country. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid volatile negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake was both Greece's future and those harsh austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a public vote, an action that threw the EU into further crisis of identity.
Although the vote was won resoundingly by voters against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“He was the public image of the talks, the figure who attracted media attention, who graced the front pages of magazines globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan involving creating a parallel currency and distributing coupons to pensioners, Tsipras knew it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unsuitable for a deal that required intricate and sensitive management.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were pushing for Grexit.
The account of events has provoked fury along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.
