Within his newly released personal account, titled Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, he chose the unorthodox economist Varoufakis as his finance minister mainly because of the latter's global profile along with his very persuasive skills when it came to communicator.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis had his own motives which included advancing his publications as well as experimenting with his economic models using the nation instead of genuinely advocating the country's economic stability.
He noted how the talks to avoid bankruptcy were “not just a way to secure a better deal for the country. They became a test, an historic chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster discussions, the country came perilously on the brink of leaving the eurozone.
At stake lay both the country's future but also the punishing austerity measures demanded in return for rescue loans from foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, Tsipras was forced but to ignore the result and agree to a bailout package from creditors that turned out to be more severe.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who appeared on the front pages of publications globally … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Is this for real?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis had proved himself “unsuitable for a deal that required intricate and delicate handling.”
Tsipras also wrote that Varoufakis's confrontational style left him increasingly isolated among peers, put Greece at risk, and helped hardliners who were pushing for Grexit.
This retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
