In a freshly published memoir, titled Ithaki, the ex- premier Tsipras spares no criticism as he revisits the chaotic period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's recollections, he chose that maverick economist Varoufakis as his treasury head mainly due to his international reputation and his very persuasive abilities as a public orator.
“He was, actually, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief had his own motives that included promoting Varoufakis's publications as well as experimenting with his own theories on the nation rather than truly fighting for the country's financial survival.
Tsipras noted how the talks to avoid insolvency were “not just a method to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid tense discussions, Greece came dangerously on the brink of leaving the eurozone.
On the line lay both the country's destiny but also those harsh cutbacks required in return for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, a move that threw Europe into further existential crisis.
Although the referendum was carried resoundingly by those against the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency and distributing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal that required complex and sensitive handling.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of events has been met with anger along with shock among certain groups, while Varoufakis has maintained a conspicuous quiet on the matter.
