Within his recently unveiled memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he reflects on the turbulent era during Greece's financial crisis.
A Controversial Choice
In Tsipras's recollections, he chose the unorthodox academic Varoufakis as the finance minister primarily due to the latter's international reputation along with his highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras suggests that Varoufakis had his own motives which included advancing Varoufakis's books and testing out his economic models on Greece rather than genuinely fighting for the country's economic stability.
He noted how those discussions to prevent insolvency were “not just a method of achieving improved terms for Greece. They became a test, an historic opportunity to prove the truth of his ideas.”
High-Stakes Talks
During rollercoaster discussions, the country found itself dangerously close to exiting the eurozone.
At stake lay not only Greece's destiny but also the severe cutbacks demanded in exchange for financial aid from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that plunged Europe into further crisis of identity.
Even though the vote was won resoundingly by voters against austerity, Tsipras was forced but to ignore the result and negotiate a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the face of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the book, the author asserts that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of events has provoked fury and stunned disbelief among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
