Within his recently unveiled autobiography, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the turbulent era during Greece's debt drama.
An Unconventional Choice
According to the ex-PM's account, he appointed the maverick academic Varoufakis to be the treasury head largely because of the latter's international reputation and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims how Varoufakis had a personal motives that involved advancing his books and experimenting with his game theories on the nation instead of genuinely fighting for the country's economic stability.
He explained how those talks to avoid insolvency were “not just a way of achieving a better deal for the country. They became an experiment, an historic opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was not only the country's destiny but also the severe austerity policies demanded in return for bailout funds from foreign lenders.
Failed Options
Efforts to find funds elsewhere, such as an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those against the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from creditors which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving creating a secondary currency as well as issuing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal that required intricate and delicate management.”
He further claimed that his aggressive style left him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating a Greek exit from the euro.
This retelling of events has provoked anger and shock among certain groups, while Varoufakis has so far kept a deafening silence regarding these claims.
