In a freshly published personal account, named Ithaki, the former premier Tsipras spares no criticism as he examines the chaotic era during Greece's economic turmoil.
A Controversial Choice
As per the ex-PM's recollections, he selected that unorthodox academic Varoufakis to be the finance minister mainly due to the latter's global profile along with his “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis possessed a personal agenda that included advancing Varoufakis's books as well as testing out his own theories on the nation rather than truly advocating its economic stability.
He wrote how those discussions to prevent bankruptcy became “not just a way of achieving a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During tense discussions, Greece came perilously close to leaving the eurozone.
At stake was not only the country's future and the punishing austerity policies required in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum and Reversal
That summer, the punitive bailout terms were put to a public vote, an action that threw Europe into a further existential crisis.
Although the vote was won decisively by voters against austerity, Tsipras had little option to ignore the result and negotiate a bailout package with foreign lenders that proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a contingency plan that included creating a parallel currency as well as issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis had proved himself to be “unfit for a deal that required complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
