In a newly released autobiography, called Ithaki, the former prime minister Tsipras does not hold back as he revisits the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, Tsipras appointed the maverick academic Varoufakis to be the treasury head mainly because of the latter's worldwide fame and his highly compelling abilities as a public orator.
“In reality, he was, actually, more like a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Agendas
Tsipras claims that his finance chief had a personal agenda that involved promoting Varoufakis's books as well as testing out his own theories using the nation instead of genuinely fighting for its economic stability.
He noted that the talks to avoid insolvency were “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece found itself dangerously close to exiting the eurozone.
At stake lay both the country's destiny and the punishing cutbacks demanded in return for financial aid by international creditors.
Failed Options
Efforts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, the Russian leader is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw the EU into further existential crisis.
Although the referendum was won decisively by those against the cuts, the prime minister had little option but to reject its outcome then agree to a bailout package from foreign lenders which turned out to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He further claimed that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, and helped hardliners that were pushing for a Greek exit from the euro.
The retelling of events has been met with anger along with shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
