In a recently unveiled autobiography, named Ithaki, the former leader Tsipras spares no criticism as he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Choice
According to the ex-PM's account, he selected that unorthodox academic Varoufakis to be the treasury head primarily because of his global profile and Varoufakis's “extremely attractive” abilities when it came to speaker.
“He was, truthfully, more like a celebrity and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief possessed a personal agenda which involved promoting his books and experimenting with his own theories on Greece instead of genuinely advocating the country's economic stability.
He noted how the negotiations to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became a test, an historic chance to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
During volatile negotiations, the country came dangerously close to exiting the eurozone.
At stake was both the country's destiny and those severe austerity measures required in return for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, a move which plunged the EU 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 agree to a bailout package with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the man who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and distributing coupons to pensioners, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally demonstrated himself “unsuitable for a deal demanding complex and sensitive handling.”
He further wrote that his confrontational style left him more and more alone with colleagues, endangered the country, while helped hawks who were advocating Grexit.
The retelling of events has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
