In a newly released memoir, titled Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic period of Greece's financial crisis.
A Controversial Choice
As per the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his finance minister primarily due to his worldwide fame and his “extremely attractive” skills when it came to speaker.
“He was, actually, more of a celebrity and less of an economic expert,” stated Tsipras.
Clashing Priorities
The former leader alleges how his finance chief possessed his own motives which included promoting Varoufakis's publications and testing out his own economic models on Greece rather than genuinely advocating the country's financial survival.
He noted how those discussions to stave off insolvency became “not just a method to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
During volatile discussions, the country came perilously on the brink of exiting the eurozone.
At stake was both the country's destiny and those harsh austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to find funds from other sources, including an urgent plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister was forced to ignore the result then negotiate a bailout package from creditors that turned out to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
He also wrote how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks who were advocating Grexit.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
