In a newly released memoir, titled Ithaki, the former leader Tsipras spares no criticism while he examines the chaotic period of Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected that unorthodox economist Varoufakis as the finance minister largely because of his global profile along with Varoufakis's “extremely attractive” skills when it came to communicator.
“He was, actually, more of a star rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader claims how his finance chief had his own motives that involved advancing Varoufakis's books as well as testing out his own economic models using Greece rather than truly advocating the country's financial survival.
He noted how those discussions to prevent bankruptcy became “not only a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
During rollercoaster discussions, the country found itself perilously close to leaving the eurozone.
On the line was not only the country's future but also those severe cutbacks demanded in return for bailout funds from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as a desperate appeal to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the referendum was carried decisively by those against the cuts, Tsipras was forced to reject its outcome then agree to a bailout package from foreign lenders which proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the covers of publications the world over … it seemed he relished the spotlight.”
After the minister proposed a backup strategy that included establishing a secondary currency as well as issuing coupons to pensioners, the leader knew it was the end and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote that Varoufakis's aggressive style left him more and more alone with colleagues, put Greece at risk, while assisted hawks that were advocating Grexit.
This account of history has been met with fury and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
