In a recently unveiled personal account, titled Ithaki, the ex- leader Tsipras spares no criticism as he revisits the chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he appointed that maverick academic Varoufakis as his treasury head primarily because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, in reality, more of a personality rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief had his own motives which included advancing his books and experimenting with his game theories using the nation rather than truly advocating the country's economic stability.
Tsipras explained how the discussions to prevent bankruptcy were “not just a method of achieving improved terms for Greece. They were a test, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
Critical Negotiations
During tense negotiations, the country came perilously on the brink of exiting the single currency area.
At stake was not only the country's future but also those harsh austerity measures required in return for financial aid by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, a move that threw Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal with creditors that turned out to be tougher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the covers of publications the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks who were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet regarding these claims.
