Within his freshly published memoir, named Ithaki, the former leader Tsipras spares no criticism while he revisits the turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's version, he appointed the unorthodox academic Varoufakis as his finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” wrote Tsipras.
Conflicting Priorities
Tsipras claims how Varoufakis possessed a personal agenda which included promoting Varoufakis's publications and testing out his theories on Greece rather than genuinely advocating the country's economic stability.
He wrote how those talks to stave off bankruptcy became “not just a way to secure improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay not only the country's destiny but also those severe austerity measures required in exchange for financial aid from foreign lenders.
Unsuccessful Options
Attempts to find funds from other sources, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly informed Tsipras in Moscow.
Referendum and U-Turn
In July 2015, the harsh bailout terms were put to a public vote, a move which plunged the EU into a further crisis of identity.
Although the referendum was won decisively by those against austerity, the prime minister was forced but to ignore the result then negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of publications the world over … it seemed he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote how Varoufakis's confrontational style left him more and more alone among peers, endangered the country, while helped hardliners who were advocating Grexit.
This account of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has kept a deafening silence regarding these claims.
