Within his newly released autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits the turbulent era during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, Tsipras selected the unorthodox academic Varoufakis to be the treasury head largely because of his worldwide fame along with his “extremely attractive” abilities as a speaker.
“He was, truthfully, more of a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
Tsipras alleges how his finance chief had a personal agenda which included advancing Varoufakis's publications as well as experimenting with his own theories using Greece instead of truly fighting for its financial survival.
He noted that those talks to prevent insolvency became “not only a way to secure improved terms for the country. They were an experiment, an historic opportunity to prove the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously close to exiting the eurozone.
At stake was both the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, a move which threw the EU into a further existential crisis.
Even though the vote was won resoundingly by voters against the cuts, Tsipras had little option to ignore the result then negotiate a rescue deal with creditors which proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted media attention, who graced the front pages of publications globally … it seemed he relished his new role.”
When the minister proposed a backup strategy involving establishing a parallel currency as well as 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 demonstrated himself to be “unsuitable for an agreement demanding complex and delicate management.”
He also claimed that his aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief among certain groups, while Varoufakis has kept a deafening silence on the matter.
