Within his recently unveiled memoir, named Ithaki, the former premier Tsipras spares no criticism while he reflects on that turbulent period of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, Tsipras selected that unorthodox academic Varoufakis as the finance minister primarily because of his worldwide fame along with his “extremely attractive” skills as a public orator.
“In reality, he was, actually, more of a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras suggests that his finance chief had a personal agenda that included promoting his books and experimenting with his economic models on Greece instead of genuinely advocating its financial survival.
He noted how those discussions to avoid insolvency were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to prove the truth of Varoufakis's theories.”
Critical Talks
During volatile discussions, the country came perilously on the brink of exiting the single currency area.
At stake lay not only Greece's future but also the punishing austerity measures required in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive conditions were put to a popular referendum, a move that threw Europe into a further crisis of identity.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM revealed that he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When the minister outlined a backup strategy that included establishing a parallel currency as well as issuing coupons to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and delicate management.”
He further claimed how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This retelling of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
