Within his recently unveiled memoir, titled Ithaki, the ex- leader Tsipras spares no criticism while he reflects on the chaotic era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, Tsipras selected that maverick academic Varoufakis to be the treasury head mainly because of his global profile along with Varoufakis's “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a personality and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that his finance chief had his own motives which involved promoting Varoufakis's publications and testing out his own economic models using Greece instead of genuinely advocating its economic stability.
Tsipras explained how the talks to prevent bankruptcy became “not just a method of achieving a better deal for the country. They were a test, an historic chance to demonstrate the validity of his economic theories.”
High-Stakes Talks
Amid tense negotiations, the country came dangerously close to leaving the single currency area.
On the line lay not only the country's destiny but also the severe austerity policies demanded in return for bailout funds by foreign lenders.
Failed Options
Attempts to secure funds elsewhere, including a desperate plea to Russia to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
That summer, the punitive conditions were subjected to a public vote, a move which plunged Europe into deeper existential crisis.
Even though the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result and negotiate a bailout package with foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When the minister proposed a contingency plan involving establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and sensitive handling.”
He further wrote that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has been met with fury and stunned disbelief in some quarters, while the former minister has so far maintained a deafening silence regarding these claims.