In a newly released personal account, titled Ithaki, the former leader Tsipras spares no criticism while he revisits the turbulent period of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's account, he chose the unorthodox academic Varoufakis to be the treasury head primarily due to his global profile and Varoufakis's highly compelling abilities when it came to public orator.
“He was, actually, more like a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader claims that Varoufakis had a personal motives which included promoting Varoufakis's books and experimenting with his economic models using the nation rather than genuinely fighting for the country's financial survival.
Tsipras explained that those discussions to stave off bankruptcy were “not just a method to secure a better deal for Greece. They were a test, an historic chance to prove the validity of his theories.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake lay not only the country's destiny and the punishing austerity policies demanded in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to find financing from other sources, such as a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were put to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the vote was won decisively by those against austerity, Tsipras had little option to ignore the result and agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister proposed a contingency plan involving creating a parallel currency and issuing vouchers to pensioners, the leader said he realised it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
He also claimed that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock among certain groups, while Varoufakis has so far kept a deafening silence on the matter.
