Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras spares no criticism as he examines the chaotic era during Greece's debt drama.
A Controversial Appointment
In Tsipras's version, Tsipras chose that maverick academic Varoufakis as the finance minister primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills as a public orator.
“In reality, he was, truthfully, more of a star and less of an economic expert,” recalled Tsipras.
Conflicting Agendas
The former leader claims that Varoufakis possessed his own agenda that involved advancing his books and testing out his own economic models on Greece instead of truly fighting for its financial survival.
He wrote how the talks to prevent bankruptcy became “not only a way to secure a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
Critical Negotiations
During tense negotiations, Greece found itself dangerously close to exiting the single currency area.
At stake lay not only Greece's future but also the severe austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw the EU into deeper crisis of identity.
Although the vote was carried resoundingly by voters against austerity, the prime minister was forced to ignore the result then negotiate a rescue deal with creditors that turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the front pages of publications globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency and issuing coupons to pensioners, the leader knew that it was the end questioning him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself “unsuitable for a deal that required intricate and sensitive management.”
He further wrote that his confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for Grexit.
The account of history has been met with anger along with shock among certain groups, while the former minister has so far maintained a conspicuous quiet regarding these claims.
