Within his freshly published personal account, named Ithaki, the former premier Tsipras spares no criticism as he reflects on that chaotic period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected the unorthodox economist Varoufakis to be his finance minister mainly due to his international reputation and his highly compelling abilities when it came to communicator.
“He was, actually, more like a personality rather than an economic expert,” recalled Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed a personal motives that involved promoting his publications as well as testing out his economic models using Greece rather than genuinely fighting for its economic stability.
Tsipras noted how those negotiations to stave off insolvency were “not just a way to secure a better deal for Greece. They were a test, an historic opportunity to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid volatile negotiations, the country came perilously close to leaving the eurozone.
On the line lay both the country's destiny and those punishing cutbacks demanded in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and U-Turn
In July 2015, those excoriating conditions were subjected to a public vote, a move which threw Europe into further existential crisis.
Even though the referendum was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors which turned out to be more severe.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew publicity, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a contingency plan that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, the author concludes that Varoufakis had proved himself to be “unsuitable for an agreement that required intricate and delicate management.”
Tsipras further wrote that his confrontational approach made him more and more alone among peers, endangered the country, and assisted hardliners that were advocating a Greek exit from the euro.
The retelling of events has been met with anger and shock among certain groups, whereas the former minister has maintained a conspicuous quiet on the matter.
