In a freshly published memoir, called Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the turbulent era of Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected that unorthodox academic Varoufakis to be his finance minister mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.
“He was, in reality, more like a star and less of an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how his finance chief possessed a personal motives that involved advancing Varoufakis's publications and testing out his own economic models using Greece instead of truly fighting for the country's financial survival.
Tsipras explained how those talks to prevent insolvency became “not just a way to secure improved terms for the country. They became a test, a monumental opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid rollercoaster discussions, Greece came dangerously close to leaving the single currency area.
On the line lay not only Greece's future and the severe austerity policies demanded in exchange for bailout funds from foreign lenders.
Failed Options
Attempts to secure funds from other sources, such as a desperate plea to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a public vote, a move that plunged the EU into a further existential crisis.
Even though the vote was carried resoundingly by voters against austerity, the prime minister was forced but to reject its outcome then agree to a rescue deal from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of the talks, the man who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
After Varoufakis proposed a backup strategy that included establishing a parallel currency as well as issuing vouchers to retirees, the leader said he realised that it was the end and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational style left him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating Grexit.
The account of history has provoked fury and stunned disbelief in some quarters, while Varoufakis has so far kept a conspicuous quiet regarding these claims.
