In a recently unveiled memoir, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's account, Tsipras appointed the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's global profile along with his highly compelling skills as a public orator.
“He was, truthfully, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had his own agenda which included advancing Varoufakis's books as well as experimenting with his own game theories using the nation rather than genuinely advocating the country's financial survival.
He noted that the discussions to prevent bankruptcy were “not just a method to secure a better deal for the country. They became a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to leaving the eurozone.
At stake lay both the country's destiny but also those harsh austerity policies required in return for rescue loans from foreign lenders.
Unsuccessful Options
Efforts to secure funds elsewhere, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, those punitive bailout terms were subjected to a popular referendum, a move which plunged Europe into further existential crisis.
Although the vote was carried decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of magazines globally … it seemed he relished his new role.”
After the minister outlined a backup strategy involving creating a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate handling.”
He further claimed that Varoufakis's confrontational approach left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
This account of history has been met with fury along with shock in some quarters, whereas the former minister has so far maintained a conspicuous quiet regarding these claims.
