Within his newly released autobiography, named Ithaki, the ex- prime minister Tsipras spares no criticism while he examines that chaotic period during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he selected the maverick academic Varoufakis as his finance minister primarily because of the latter's international reputation and his highly compelling abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras claims how his finance chief possessed a personal agenda that involved promoting Varoufakis's publications and testing out his own economic models on Greece instead of truly fighting for the country's economic stability.
He explained how those talks to avoid insolvency were “not just a method of achieving a better deal for Greece. They were a test, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay not only Greece's future but also the harsh austerity policies required in exchange for financial aid by international creditors.
Failed Options
Attempts to find funds from other sources, such as an urgent plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that plunged Europe into a deeper crisis of identity.
Although the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the figure who attracted publicity, who appeared on the covers of publications globally … it seemed he relished the spotlight.”
When the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, the leader said he realised it was the end questioning Varoufakis: “Can you be serious?”
Enduring Criticism
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote how Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
