In a recently unveiled memoir, named Ithaki, the ex- leader Tsipras spares no criticism while he examines that turbulent era during Greece's economic turmoil.
A Controversial Choice
According to Tsipras's recollections, he appointed the maverick economist Varoufakis as the finance minister largely due to the latter's global profile and his “extremely attractive” skills as a speaker.
“He was, truthfully, more like a celebrity rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges how his finance chief had a personal motives that included advancing Varoufakis's publications and experimenting with his own economic models on the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote that the discussions to stave off insolvency were “not only a way to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his ideas.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay both the country's future and the punishing austerity measures required in exchange for financial aid from international creditors.
Failed Options
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a public vote, an action which threw the EU into further existential crisis.
Although the referendum was carried resoundingly by those who opposed austerity, Tsipras had little option to reject its outcome then negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
After the minister outlined a backup strategy that included establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for an agreement demanding complex and sensitive handling.”
He also wrote that his aggressive style made him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating Grexit.
The retelling of events has been met with anger along with shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
