Within his recently unveiled memoir, named Ithaki, the former premier Tsipras spares no criticism while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Appointment
As per Tsipras's account, he selected that maverick economist Varoufakis as his finance minister mainly because of his global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges how Varoufakis possessed his own motives which involved promoting Varoufakis's publications as well as testing out his game theories on the nation instead of truly fighting for its financial survival.
He noted that those talks to prevent bankruptcy were “not only a method to secure a better deal for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the single currency area.
On the line lay both the country's future but also the punishing cutbacks demanded in exchange for financial aid from foreign lenders.
Failed Alternatives
Attempts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the excoriating bailout terms were subjected to a public vote, a move which plunged the EU into further crisis of identity.
Even though the referendum was carried resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome and negotiate a bailout package with foreign lenders which proved to be tougher.
Final Straw
Tsipras claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew media attention, who graced the covers of magazines the world over … it seemed he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, the leader said he realised it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and delicate handling.”
He further claimed how his aggressive approach made him more and more alone among peers, put Greece at risk, and helped hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
