In a newly released memoir, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed that unorthodox academic Varoufakis as his finance minister primarily due to the latter's worldwide fame and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own agenda which included advancing his books and testing out his theories on Greece rather than truly fighting for its economic stability.
He explained how those talks to avoid bankruptcy were “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the validity of his economic theories.”
High-Stakes Talks
During tense discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay both Greece's future and the harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive conditions were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Even though the referendum was carried decisively by those who opposed austerity, the prime minister had little option to reject its outcome and agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a secondary currency and distributing vouchers to retirees, the leader said he realised that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras also wrote how his confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were advocating Grexit.
This account of events has provoked fury and shock among certain groups, whereas the former minister has so far maintained a deafening silence regarding these claims.
