Within his freshly published personal account, titled Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he chose the unorthodox academic Varoufakis to be the finance minister mainly because of his international reputation along with his highly compelling abilities as a speaker.
“In reality, he was, actually, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader alleges that Varoufakis had a personal motives which involved advancing his books as well as testing out his theories on Greece instead of genuinely fighting for its financial survival.
Tsipras noted how those negotiations to stave off insolvency were “not only a way of achieving improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of leaving the single currency area.
At stake was both the country's future but also the punishing austerity measures demanded in exchange for rescue loans from international creditors.
Failed Alternatives
Attempts to secure funds from other sources, including a desperate appeal to Russia to purchase Greek government bonds, were rejected.
Assisting Greece was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were put to a popular referendum, a move that plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome and agree to a rescue deal from foreign lenders that proved to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to pensioners, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive handling.”
He further claimed how his confrontational approach left him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were advocating Grexit.
This account of events has been met with anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
