In a recently unveiled personal account, named Ithaki, the former prime minister Tsipras pulls no punches while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's account, Tsipras chose that maverick economist Varoufakis to be his treasury head mainly due to the latter's global profile along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled Tsipras.
Clashing Agendas
Tsipras alleges how Varoufakis had a personal motives that involved promoting his books and testing out his own theories using the nation rather than truly fighting for its economic stability.
He noted how those talks to avoid insolvency became “not just a method of achieving improved terms for the country. They became a test, a monumental opportunity to prove the validity of his economic theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, Greece came dangerously close to exiting the eurozone.
At stake was both Greece's future but also those severe cutbacks demanded in exchange for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds from other sources, including an urgent appeal to Russia to buy Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were put to a popular referendum, a move that plunged Europe into further crisis of identity.
Although the vote was won resoundingly by voters against the cuts, Tsipras was forced to ignore the result then negotiate a bailout package with creditors which turned out to be tougher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to pensioners, Tsipras knew that it was game over and asked him: “Are you serious?”
Lasting Criticism
In the book, Tsipras asserts how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
Tsipras also wrote that Varoufakis's aggressive approach left him increasingly isolated among peers, put Greece at risk, and assisted hawks who were advocating Grexit.
The account of history has been met with anger along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet regarding these claims.
