In a recently unveiled personal account, named Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the chaotic era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head mainly because of his worldwide fame and Varoufakis's highly compelling abilities when it came to communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis possessed his own motives which included advancing his books and testing out his own theories on Greece rather than genuinely advocating its economic stability.
He noted how those negotiations to prevent bankruptcy were “not only a way to secure a better deal for the country. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself perilously on the brink of leaving the eurozone.
On the line was not only Greece's destiny and the harsh austerity measures demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to find financing elsewhere, such as an urgent plea to Russia to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those punitive conditions were subjected to a public vote, an action that threw Europe into further existential crisis.
Although the vote was won decisively by those against the cuts, Tsipras had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who drew media attention, who graced the covers of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a parallel currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, the author asserts how Varoufakis demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras also wrote how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while assisted hardliners who were advocating Grexit.
The account of events has been met with fury and stunned disbelief among certain groups, while the former minister has kept a deafening silence on the matter.
