Within his newly released memoir, called Ithaki, the ex- premier Tsipras spares no criticism as he examines the turbulent period during Greece's financial crisis.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed the maverick economist Varoufakis as the treasury head mainly because of the latter's international reputation and his highly compelling skills when it came to public orator.
“He was, actually, more of a personality and less of an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had a personal agenda that involved promoting his publications as well as testing out his own economic models using Greece instead of truly advocating the country's financial survival.
Tsipras explained that the talks to avoid insolvency were “not just a way to secure a better deal for Greece. They became a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Negotiations
During tense negotiations, Greece found itself dangerously on the brink of leaving the single currency area.
At stake was both the country's future but also the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, an action that plunged the EU into a further existential crisis.
Even though the referendum was carried resoundingly by those who opposed the cuts, Tsipras was forced but to ignore the result and agree to a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a contingency plan that included creating a secondary currency and distributing coupons to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
This account of events has been met with anger and stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet regarding these claims.
