In a newly released personal account, named Ithaki, the former prime minister Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
As per Tsipras's account, he appointed the unorthodox academic Varoufakis to be the treasury head largely because of his international reputation and Varoufakis's very persuasive skills as a speaker.
“In reality, he was, in reality, more of a celebrity rather than an economist,” stated the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis possessed a personal agenda which involved advancing Varoufakis's books and testing out his own theories using the nation rather than truly fighting for the country's economic stability.
He wrote that those talks to avoid bankruptcy became “not only a way of achieving a better deal for Greece. They were an experiment, an historic opportunity to prove the validity of his theories.”
Critical Talks
During volatile negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
On the line lay not only the country's destiny and the severe austerity policies required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those harsh bailout terms were subjected to a public vote, an action that threw the EU into a deeper crisis of identity.
Although the referendum was carried resoundingly by those against austerity, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders which proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew publicity, who appeared on the covers of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis proposed a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
Within the book, the author asserts how Varoufakis had proved himself to be “unfit for a deal demanding complex and delicate handling.”
He further claimed that Varoufakis's aggressive style made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of events has been met with anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a deafening silence on the matter.
