In a freshly published personal account, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits that turbulent period during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras appointed that unorthodox economist Varoufakis to be the treasury head largely due to his global profile along with Varoufakis's “extremely attractive” skills when it came to speaker.
“He was, truthfully, more of a star rather than an economist,” recalled Tsipras.
Clashing Agendas
The former leader suggests that Varoufakis had his own agenda that included promoting Varoufakis's books as well as testing out his own economic models using the nation rather than truly advocating the country's economic stability.
He noted that the negotiations to prevent insolvency became “not only a way of achieving a better deal for the country. They were a test, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
During rollercoaster negotiations, the country came perilously on the brink of exiting the single currency area.
On the line lay not only the country's destiny and those punishing austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and Reversal
That summer, those punitive bailout terms were subjected to a popular referendum, a move that threw the EU into deeper crisis of identity.
Although the referendum was won decisively by those against the cuts, the prime minister was forced to ignore the result and negotiate a rescue deal from foreign lenders which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a contingency plan involving establishing a parallel currency and issuing coupons to pensioners, the leader said he realised that it was the end questioning him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive management.”
He further wrote how Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has been met with anger and shock among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
