Within his freshly published memoir, called Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, he selected that maverick academic Varoufakis to be the treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling skills when it came to speaker.
“He was, truthfully, more like a personality rather than an economic expert,” recalled the 51-year-old.
Conflicting Agendas
The former leader suggests how Varoufakis had his own motives that involved promoting Varoufakis's publications as well as testing out his own theories using Greece instead of genuinely advocating its economic stability.
Tsipras wrote that those talks to prevent insolvency became “not just a way of achieving a better deal for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
Critical Negotiations
During rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
At stake was not only the country's destiny but also those punishing austerity policies demanded in exchange for financial aid by foreign lenders.
Failed Alternatives
Efforts to secure funds from other sources, including a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move which threw Europe into deeper crisis of identity.
Although the referendum was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Criticism
In the book, Tsipras concludes how Varoufakis demonstrated himself to be “unsuitable for a deal that required complex and delicate handling.”
He also claimed that Varoufakis's aggressive style left him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The account of history has provoked fury along with shock among certain groups, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
