Within his recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism while he examines the turbulent period of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's recollections, Tsipras appointed that unorthodox academic Varoufakis to be the finance minister primarily due to his worldwide fame along with Varoufakis's very persuasive skills as a speaker.
“In reality, he was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Clashing Agendas
The former leader alleges that his finance chief had his own motives which included promoting Varoufakis's books as well as testing out his own economic models on the nation instead of genuinely advocating the country's financial survival.
He wrote how those discussions to stave off insolvency were “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line lay both Greece's future but also the severe austerity policies required in exchange for rescue loans by international creditors.
Failed Alternatives
Attempts to find funds elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the harsh conditions were put to a popular referendum, a move that threw Europe into a further existential crisis.
Although the referendum was carried decisively by those against austerity, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors that turned out to be tougher.
Final Straw
The ex-PM revealed how he started questioning his finance minister relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of history has provoked anger and shock among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
