In a freshly published autobiography, called Ithaki, the ex- leader Tsipras spares no criticism while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Choice
As per Tsipras's account, he chose that maverick economist Varoufakis to be his finance minister mainly because of his global profile and Varoufakis's very persuasive abilities as a public orator.
“He was, actually, more of a star and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had a personal agenda that included promoting his publications as well as testing out his economic models on Greece instead of truly fighting for the country's economic stability.
He wrote that those discussions to prevent bankruptcy were “not only a way to secure a better deal for Greece. They were a test, an historic opportunity to prove the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself perilously close to exiting the eurozone.
On the line was both Greece's destiny but also the severe cutbacks demanded in return for financial aid from international creditors.
Unsuccessful Options
Efforts to find financing from other sources, including a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, the harsh bailout terms were subjected to a public vote, a move that plunged Europe into a deeper existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister was forced to ignore the result then agree to a bailout package from creditors that turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving creating a parallel currency and issuing vouchers to retirees, the leader said he realised it was the end questioning Varoufakis: “Is this for real?”
Enduring Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras also claimed how his aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
The retelling of history has provoked anger and shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
