Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras spares no criticism while he reflects on that turbulent period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, Tsipras selected that maverick academic Varoufakis as his finance minister mainly because of his international reputation and his highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis had a personal agenda which included advancing Varoufakis's publications as well as experimenting with his theories using the nation instead of genuinely fighting for the country's economic stability.
He explained how the talks to avoid insolvency became “not just a method of achieving improved terms for the country. They became an experiment, an historic chance to prove the truth of his theories.”
High-Stakes Negotiations
Amid tense discussions, the country found itself perilously on the brink of leaving the eurozone.
On the line was both the country's destiny and those harsh cutbacks required in exchange for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those punitive conditions were put to a popular referendum, a move which plunged Europe into deeper existential crisis.
Although the vote was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome then agree to a rescue deal from creditors which proved to be more severe.
Final Straw
The ex-PM revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy that included creating a parallel currency as well as issuing coupons to retirees, Tsipras knew it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself “unfit for an agreement that required complex and delicate management.”
Tsipras further wrote how his confrontational style made him increasingly isolated with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
This account of history has been met with anger and stunned disbelief among certain groups, while Varoufakis has so far maintained a deafening silence regarding these claims.
