Within his newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism while he revisits the turbulent era of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, Tsipras appointed the unorthodox economist Varoufakis as his treasury head mainly due to his worldwide fame along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed a personal agenda that included promoting Varoufakis's publications as well as testing out his economic models on the nation rather than truly advocating its economic stability.
He explained how those discussions to avoid bankruptcy became “not just a method to secure a better deal for the country. They became an experiment, a monumental opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Negotiations
Amid tense discussions, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was not only the country's destiny but also those harsh cutbacks required in return for rescue loans from foreign lenders.
Failed Alternatives
Attempts to secure funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the harsh conditions were put to a public vote, an action that plunged Europe into deeper existential crisis.
Even though the referendum was carried decisively by voters against austerity, Tsipras had little option to reject its outcome and negotiate a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When the minister outlined a contingency plan involving establishing a parallel currency and issuing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding intricate and delicate management.”
Tsipras also wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, while assisted hawks that were pushing for Grexit.
The account of history has been met with anger and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
