Within his recently unveiled memoir, titled Ithaki, the ex- premier Tsipras spares no criticism as he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Choice
As per Tsipras's recollections, Tsipras selected the unorthodox academic Varoufakis as the treasury head mainly due to the latter's international reputation along with his very persuasive abilities when it came to speaker.
“He was, truthfully, more of a star and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal motives that involved advancing his books and experimenting with his theories on Greece instead of genuinely advocating its economic stability.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a method of achieving a better deal for Greece. They became a test, an historic chance to prove the validity of his ideas.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was both Greece's future but also those harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds from other sources, including a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a popular referendum, an action that threw Europe into a deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced but to reject its outcome then negotiate a bailout package with creditors which proved to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the covers of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency and distributing vouchers to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
He also claimed that Varoufakis's aggressive style made him more and more alone among peers, put Greece at risk, while helped hardliners that were advocating Grexit.
The account of history has provoked anger along with shock in some quarters, whereas Varoufakis has maintained a conspicuous quiet on the matter.
