In a recently unveiled personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic period of Greece's debt drama.
An Unconventional Appointment
In Tsipras's version, he selected the maverick economist Varoufakis to be the treasury head mainly due to his international reputation along with his highly compelling skills as a speaker.
“In reality, he was, actually, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis possessed a personal agenda which involved advancing Varoufakis's books and experimenting with his own economic models on the nation instead of truly fighting for the country's economic stability.
Tsipras noted that the discussions to avoid insolvency became “not only a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country came dangerously on the brink of exiting the single currency area.
On the line was not only Greece's future but also those severe austerity measures demanded in return for rescue loans from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced but to reject its outcome and agree to a bailout package from creditors that turned out to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency and distributing coupons to retirees, Tsipras knew it was game over and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes how his former ally had proved himself to be “unsuitable for an agreement that required intricate and delicate handling.”
Tsipras further wrote that his confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
This retelling of events has been met with fury along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
