In a freshly published personal account, titled Ithaki, the former leader Tsipras spares no criticism while he revisits the chaotic period of Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's account, Tsipras selected the maverick academic Varoufakis as his treasury head largely due to his worldwide fame and Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
Tsipras suggests that Varoufakis possessed a personal motives that included advancing his publications and experimenting with his own economic models using the nation instead of genuinely advocating its economic stability.
He noted that the negotiations to prevent bankruptcy were “not just a way to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was not only Greece's future but also the harsh cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
That summer, the harsh conditions were subjected to a public vote, an action that threw the EU into further crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, Tsipras knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal that required complex and sensitive handling.”
He also claimed how his confrontational approach left him increasingly isolated among peers, endangered the country, and helped hawks that were advocating Grexit.
The retelling of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has maintained a conspicuous quiet regarding these claims.
