In a newly released autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Appointment
In the ex-PM's recollections, Tsipras appointed that maverick academic Varoufakis to be the treasury head primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a speaker.
“He was, in reality, more like a personality rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief had his own agenda that involved advancing his publications as well as testing out his game theories using the nation rather than truly advocating the country's economic stability.
Tsipras explained how those talks to avoid insolvency were “not just a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of his ideas.”
Critical Talks
During tense negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only the country's future and the punishing austerity policies required in exchange for bailout funds by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were put to a popular referendum, an action that plunged the EU into a further crisis of identity.
Even though the referendum was won decisively by those who opposed austerity, Tsipras had little option but to ignore the result then agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the face of the talks, the figure who attracted publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as issuing vouchers to pensioners, Tsipras said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how his former ally had proved himself “unsuitable for an agreement that required intricate and sensitive management.”
Tsipras further wrote how his aggressive style left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were advocating Grexit.
The retelling of events has been met with fury along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence regarding these claims.
