In a newly released personal account, called Ithaki, the former leader Tsipras spares no criticism while he revisits that turbulent era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's recollections, Tsipras chose that unorthodox economist Varoufakis to be his finance minister mainly because of the latter's global profile along with Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, truthfully, more like a star and less of an economic expert,” wrote Tsipras.
Conflicting Priorities
The former leader claims how Varoufakis had his own agenda that involved advancing his publications and testing out his own economic models using Greece instead of genuinely fighting for the country's financial survival.
Tsipras noted that those discussions to prevent bankruptcy were “not just a way of achieving a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid volatile discussions, the country found itself perilously close to exiting the single currency area.
At stake lay not only Greece's future and the punishing austerity policies required in return for bailout funds by foreign lenders.
Failed Options
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Referendum and Reversal
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which plunged Europe into a deeper crisis of identity.
Although the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with creditors which turned out to be more severe.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency and issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal demanding intricate and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The retelling of events has provoked anger and shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
