Within his newly released personal account, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic period of Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he chose that unorthodox economist Varoufakis as the finance minister largely due to the latter's international reputation and his very persuasive abilities as a speaker.
“In reality, he was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had his own agenda which involved promoting his publications and experimenting with his own theories on Greece rather than genuinely advocating its economic stability.
Tsipras explained how those negotiations to prevent insolvency were “not just a method to secure a better deal for Greece. They became a test, an historic chance to prove the validity of his economic theories.”
High-Stakes Negotiations
During tense discussions, the country came dangerously close to leaving the eurozone.
On the line was not only Greece's future and those punishing austerity policies demanded in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were put to a public vote, an action which threw Europe into further crisis of identity.
Even though the vote was carried resoundingly by those who opposed the cuts, the prime minister had little option to ignore the result then negotiate a rescue deal with foreign lenders which proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself to be “unfit for a deal demanding complex and sensitive management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, endangered the country, while helped hawks who were advocating Grexit.
This retelling of events has provoked anger and shock in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
