In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism as he reflects on the chaotic era of Greece's debt drama.
A Controversial Choice
In the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as his finance minister mainly due to his global profile along with his “extremely attractive” skills when it came to public orator.
“He was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed a personal motives which included promoting Varoufakis's books as well as experimenting with his own theories using the nation instead of genuinely advocating the country's financial survival.
Tsipras wrote that those discussions to prevent insolvency were “not just a method to secure improved terms for the country. They were an experiment, a monumental chance to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
During tense discussions, the country came dangerously close to leaving the single currency area.
At stake lay both the country's destiny and the severe austerity policies required in return for financial aid by foreign lenders.
Failed Options
Efforts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move which threw the EU into deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister had little option but to reject its outcome and agree to a bailout package with creditors which proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan involving establishing a parallel currency and distributing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, the author asserts how his former ally demonstrated himself to be “unsuitable for a deal demanding complex and delicate management.”
Tsipras also claimed how Varoufakis's aggressive approach left him more and more alone with colleagues, put Greece at risk, while helped hawks who were pushing for a Greek exit from the euro.
The account of events has been met with fury and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
