In a freshly published personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism as he examines the turbulent period of Greece's financial crisis.
A Controversial Appointment
As per Tsipras's recollections, he selected the maverick academic Varoufakis as the treasury head largely due to the latter's international reputation along with his very persuasive skills when it came to public orator.
“He was, truthfully, more of a star rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that Varoufakis had a personal agenda which involved advancing Varoufakis's books as well as experimenting with his own economic models on the nation rather than genuinely advocating its economic stability.
Tsipras wrote how the discussions to stave off insolvency were “not only a method of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the truth of his theories.”
High-Stakes Talks
During tense discussions, Greece came dangerously on the brink of exiting the single currency area.
At stake was both the country's destiny but also those severe cutbacks required in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find funds from other sources, including a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, a move that threw the EU into a further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, Tsipras was forced but to reject its outcome and negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a contingency plan that included establishing a parallel currency as well as distributing coupons to pensioners, the leader knew that it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that Varoufakis's confrontational style left him more and more alone among peers, endangered the country, and helped hawks that were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet on the matter.
