In a freshly published autobiography, named Ithaki, the ex- leader Tsipras spares no criticism as he revisits that turbulent era of Greece's debt drama.
An Unconventional Choice
As per the ex-PM's account, he appointed that maverick economist Varoufakis as the finance minister mainly because of the latter's worldwide fame along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, in reality, more of a star and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that his finance chief had a personal motives that included advancing his books and testing out his own theories on the nation instead of genuinely advocating the country's financial survival.
He wrote how those discussions to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Talks
During rollercoaster discussions, Greece found itself dangerously close to leaving the eurozone.
At stake lay not only Greece's future but also the harsh austerity measures required in return for financial aid by international creditors.
Failed Options
Attempts to find financing from other sources, including a desperate plea to Russia to purchase Greek bonds, were rejected.
Helping the indebted country would be tantamount to throwing money into the garbage, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, a move that threw Europe into a deeper existential crisis.
Although the vote was carried decisively by those against the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted media attention, who appeared on the covers of publications globally … it seemed he relished his new role.”
When the minister proposed a contingency plan that included creating a secondary currency as well as issuing coupons to pensioners, the leader knew that it was game over and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself to be “unfit for a deal that required complex and delicate management.”
He also claimed that his confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for Grexit.
The retelling of events has provoked fury along with stunned disbelief among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.