In a recently unveiled memoir, named Ithaki, the ex- premier Tsipras spares no criticism as he examines the turbulent era during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's recollections, Tsipras selected that unorthodox economist Varoufakis as the finance minister primarily due to his worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how his finance chief had a personal agenda which involved promoting Varoufakis's books and testing out his theories using Greece instead of genuinely advocating the country's financial survival.
He wrote that those negotiations to avoid insolvency became “not only a method to secure a better deal for Greece. They became a test, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, the country found itself dangerously close to leaving the single currency area.
On the line was both Greece's destiny but also the harsh cutbacks required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find funds elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was equivalent to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, the harsh bailout terms were put to a public vote, an action which threw Europe into further existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced but to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to retirees, Tsipras knew it was game over and asked Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, the author asserts that his former ally had proved himself “unsuitable for a deal demanding complex and sensitive handling.”
Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were pushing for Grexit.
The account of history has been met with fury and stunned disbelief among certain groups, while Varoufakis has so far maintained a conspicuous quiet on the matter.
