In a recently unveiled personal account, called Ithaki, the ex- leader Tsipras spares no criticism as he revisits the chaotic era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras appointed that maverick academic Varoufakis as his finance minister largely due to his global profile along with his “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Agendas
The former leader suggests that Varoufakis had a personal motives which involved promoting his books and testing out his own economic models using the nation rather than genuinely advocating its financial survival.
He noted that the negotiations to stave off bankruptcy were “not just a method of achieving improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
On the line was both the country's destiny and the punishing cutbacks demanded in exchange for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, those punitive bailout terms were put to a public vote, a move which threw the EU into a deeper crisis of identity.
Even though the vote was won decisively by those against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package with foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“He was the public image of the talks, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, Tsipras knew it was game over and asked him: “Are you serious?”
Lasting Criticism
Within the memoir, the author concludes that Varoufakis had proved himself “unsuitable for a deal demanding complex and delicate management.”
He also wrote how his aggressive style made him more and more alone with colleagues, endangered the country, and helped hardliners that were pushing for Grexit.
This account of events has provoked anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
