In a freshly published memoir, called Ithaki, the ex- leader Tsipras does not hold back as he revisits the turbulent period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's account, he appointed the maverick economist Varoufakis to be the finance minister mainly due to the latter's international reputation and Varoufakis's highly compelling skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras alleges how Varoufakis possessed a personal agenda that included advancing his publications as well as experimenting with his own game theories using the nation rather than genuinely fighting for the country's financial survival.
Tsipras wrote that those discussions to avoid bankruptcy became “not only a method to secure a better deal for Greece. They became an experiment, an historic chance to prove the truth of his ideas.”
High-Stakes Negotiations
During tense discussions, the country found itself perilously close to leaving the single currency area.
On the line was not only Greece's destiny but also those harsh austerity measures demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, those excoriating bailout terms were subjected to a popular referendum, a move that threw the EU into a further crisis of identity.
Although the vote was won resoundingly by voters against austerity, Tsipras was forced to reject its outcome and agree to a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted publicity, who graced the covers of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself to be “unsuitable for an agreement that required complex and sensitive management.”
Tsipras also wrote that Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hawks that were pushing for Grexit.
The account of events has provoked anger and stunned disbelief among certain groups, whereas the former minister has so far maintained a conspicuous quiet on the matter.
