Within his newly released autobiography, titled Ithaki, the former leader Tsipras does not hold back while he revisits the chaotic period during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he chose that unorthodox academic Varoufakis as his finance minister primarily because of his international reputation and Varoufakis's very persuasive skills as a public orator.
“He was, actually, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Priorities
Tsipras suggests how Varoufakis possessed his own agenda which involved advancing Varoufakis's publications and testing out his economic models on Greece instead of truly advocating the country's financial survival.
Tsipras noted that the talks to prevent bankruptcy became “not just a way to secure improved terms for Greece. They were a test, an historic opportunity to demonstrate the validity of his theories.”
Critical Negotiations
During volatile discussions, Greece came perilously close to exiting the eurozone.
At stake was both the country's destiny but also the punishing cutbacks demanded in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, the Russian leader reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were put to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras had little option to ignore the result then negotiate a bailout package with foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader said he realised it was the end and asked him: “Can you be serious?”
Lasting Criticism
Within the book, the author concludes that Varoufakis had proved himself to be “unfit for an agreement demanding intricate and sensitive management.”
He further claimed that Varoufakis's aggressive approach left him more and more alone among peers, endangered the country, while assisted hardliners that were advocating Grexit.
The account of history has provoked fury along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet regarding these claims.
