Within his newly released personal account, titled Ithaki, the former leader Tsipras spares no criticism while he examines the chaotic period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he chose the unorthodox academic Varoufakis to be the finance minister largely because of the latter's global profile and Varoufakis's highly compelling abilities as a communicator.
“He was, in reality, more like a celebrity and less of an economist,” recalled Tsipras.
Clashing Agendas
The former leader claims that Varoufakis possessed a personal motives which included promoting Varoufakis's books as well as testing out his own economic models using the nation rather than truly advocating its economic stability.
Tsipras wrote how those negotiations to avoid bankruptcy were “not only a method to secure improved terms for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid rollercoaster discussions, the country came dangerously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and those punishing cutbacks demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds from other sources, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, those excoriating conditions were put to a popular referendum, a move which threw the EU into further existential crisis.
Even though the vote was carried decisively by those who opposed the cuts, the prime minister had little option but to ignore the result then negotiate a rescue deal from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, the author concludes how Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone with colleagues, endangered the country, and helped hawks who were pushing for Grexit.
This account of events has been met with anger along with stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
