In a recently unveiled personal account, called Ithaki, the former leader Tsipras spares no criticism while he revisits the turbulent era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, Tsipras appointed that maverick academic Varoufakis as the treasury head primarily because of his global profile and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economist,” recalled Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis possessed his own agenda which involved promoting his publications and experimenting with his own theories on the nation rather than truly fighting for the country's economic stability.
He noted how the talks to prevent insolvency were “not just a method to secure improved terms for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to exiting the single currency area.
At stake lay both Greece's future but also the punishing austerity measures required in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, an action that plunged the EU into deeper existential crisis.
Although the vote was won resoundingly by those who opposed austerity, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan that included establishing a secondary currency and distributing vouchers to retirees, Tsipras knew it was game over and asked him: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts how his former ally had proved himself “unsuitable for a deal that required intricate and sensitive handling.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
