Within his recently unveiled memoir, called Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras selected the maverick economist Varoufakis as the finance minister mainly due to the latter's international reputation and his “extremely attractive” abilities as a public orator.
“He was, truthfully, more of a personality rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed a personal agenda that included advancing Varoufakis's publications and testing out his theories using the nation rather than truly fighting for the country's financial survival.
Tsipras explained how the discussions to prevent insolvency were “not only a way of achieving improved terms for the country. They became a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake was not only the country's future but also the severe austerity measures required in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those excoriating conditions were subjected to a public vote, an action that plunged the EU into a further crisis of identity.
Although the vote was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … it seemed he relished his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency and distributing coupons to pensioners, the leader knew that it was the end questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further wrote how his aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hardliners who were advocating a Greek exit from the euro.
The account of history has provoked anger and stunned disbelief among certain groups, whereas Varoufakis has so far maintained a deafening silence on the matter.
