Within his recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism while he examines that turbulent period during Greece's debt drama.
An Unconventional Choice
According to Tsipras's version, Tsipras appointed that maverick economist Varoufakis as the treasury head primarily because of his global profile and Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Agendas
Tsipras claims that Varoufakis possessed his own agenda that involved advancing Varoufakis's books as well as experimenting with his theories using the nation rather than truly fighting for its financial survival.
He explained that those talks to stave off insolvency became “not just a way to secure improved terms for the country. They were a test, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
During volatile discussions, Greece came perilously close to leaving the eurozone.
At stake lay not only the country's future but also those harsh cutbacks required in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, were rejected.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the punitive bailout terms were subjected to a popular referendum, an action which plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras had little option but to ignore the result then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the memoir, the author asserts that Varoufakis had proved himself to be “unsuitable for an agreement that required complex and delicate handling.”
He further wrote that his aggressive style left him increasingly isolated with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
