In a newly released memoir, called Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent period of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, he appointed the unorthodox economist Varoufakis to be his finance minister largely due to the latter's worldwide fame and Varoufakis's highly compelling skills as a speaker.
“He was, in reality, more of a personality and less of an economic expert,” stated Tsipras.
Clashing Priorities
Tsipras claims that his finance chief possessed a personal agenda that involved promoting his books and testing out his own theories using the nation instead of truly advocating the country's economic stability.
He noted that those discussions to stave off insolvency became “not just a method to secure improved terms for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
During tense discussions, the country found itself dangerously on the brink of leaving the eurozone.
On the line was both the country's future but also the harsh austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, an action which threw the EU into further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option to ignore the result and negotiate a bailout package with creditors that proved to be even harsher.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency as well as issuing coupons to retirees, the leader said he realised that it was the end and asked him: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes that his former ally demonstrated himself “unsuitable for an agreement demanding complex and delicate management.”
Tsipras also wrote that Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
The account of history has provoked fury along with stunned disbelief among certain groups, while the former minister has maintained a deafening silence on the matter.
