Within his recently unveiled autobiography, called Ithaki, the ex- leader Tsipras spares no criticism as he reflects on that turbulent era during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed that unorthodox academic Varoufakis as the finance minister primarily due to his international reputation along with his very persuasive abilities when it came to public orator.
“He was, in reality, more of a star rather than an economic expert,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis had a personal motives that involved promoting his books as well as testing out his economic models on the nation rather than genuinely fighting for its financial survival.
He noted how the discussions to avoid insolvency became “not only a way to secure a better deal for Greece. They were a test, a monumental opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid tense negotiations, the country found itself dangerously close to leaving the eurozone.
At stake was both the country's destiny and the punishing austerity measures required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds from other sources, including a desperate plea to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Referendum and U-Turn
That summer, those harsh conditions were subjected to a popular referendum, a move that plunged the EU into deeper crisis of identity.
Although the referendum was won decisively by those who opposed the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors which proved to be more severe.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras said he realised that it was game over questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, the author asserts that Varoufakis demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
