Within his freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism while he revisits the turbulent era during Greece's financial crisis.
An Unconventional Appointment
In Tsipras's version, he chose that unorthodox economist Varoufakis as the finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities as a communicator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis possessed a personal motives that involved advancing his publications and testing out his theories using Greece rather than truly fighting for the country's financial survival.
Tsipras explained that those talks to stave off insolvency were “not just a method to secure improved terms for Greece. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake was not only the country's future but also the severe austerity measures demanded in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and U-Turn
In July 2015, those harsh conditions were put to a popular referendum, an action which threw Europe into a further existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors which proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author concludes how Varoufakis had proved himself “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, and assisted hawks that were advocating a Greek exit from the euro.
The retelling of events has provoked anger and stunned disbelief in some quarters, while the former minister has so far maintained a conspicuous quiet on the matter.
