In a recently unveiled personal account, titled Ithaki, the former prime minister Tsipras spares no criticism while he reflects on that chaotic period during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's account, he selected the maverick academic Varoufakis as the finance minister largely due to his global profile along with his “extremely attractive” abilities as a public orator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that Varoufakis had his own motives which included promoting Varoufakis's publications as well as testing out his game theories using the nation instead of truly advocating its financial survival.
He wrote how those discussions to stave off insolvency became “not only a way of achieving a better deal for Greece. They were an experiment, an historic chance to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake was not only Greece's future and those severe austerity policies required in exchange for financial aid by international creditors.
Unsuccessful Alternatives
Efforts to secure financing elsewhere, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were put to a popular referendum, an action that plunged Europe into a deeper crisis of identity.
Even though the vote was won decisively by voters against the cuts, Tsipras was forced but to ignore the result and negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister quite early on.
“He was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to retirees, the leader knew that it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally demonstrated himself “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
This account of history has been met with fury and shock in some quarters, while the former minister has so far kept a conspicuous quiet regarding these claims.
