In a newly released autobiography, called Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's recollections, he chose that unorthodox academic Varoufakis to be the finance minister primarily because of his worldwide fame and Varoufakis's “extremely attractive” skills as a speaker.
“He was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader suggests how Varoufakis had a personal agenda that involved promoting his books as well as testing out his economic models using the nation rather than genuinely fighting for the country's economic stability.
He noted that the discussions to stave off bankruptcy became “not just a way of achieving improved terms for Greece. They became a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, Greece came perilously close to leaving the eurozone.
On the line was not only the country's destiny and the harsh austerity measures required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move that threw the EU into a further existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras was forced to reject its outcome then agree to a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, the leader said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while assisted hawks who were pushing for a Greek exit from the euro.
The retelling of events has provoked anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
