Within his newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that chaotic era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he appointed the maverick academic Varoufakis to be the treasury head mainly because of the latter's global profile along with his very persuasive skills when it came to speaker.
“In reality, he was, actually, more of a celebrity rather than an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras suggests that Varoufakis had a personal agenda which involved advancing Varoufakis's publications and testing out his theories on Greece instead of genuinely advocating the country's financial survival.
He wrote how those negotiations to stave off bankruptcy were “not only a way to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece came dangerously close to leaving the eurozone.
At stake lay not only the country's destiny but also those harsh cutbacks demanded in exchange for rescue loans by international creditors.
Unsuccessful Options
Efforts to find financing elsewhere, including a desperate plea to the Kremlin to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, the punitive conditions were put to a public vote, a move that threw Europe into a deeper existential crisis.
Even though the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM revealed how he started questioning his finance minister quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
After the minister outlined a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that his former ally demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
The account of events has provoked fury and stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
