Within his freshly published memoir, called Ithaki, the former leader Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's recollections, he chose the maverick economist Varoufakis as his finance minister mainly because of his international reputation and his very persuasive skills when it came to public orator.
“He was, actually, more of a personality rather than an economic expert,” stated Tsipras.
Clashing Agendas
Tsipras alleges that his finance chief possessed a personal motives that involved advancing his publications as well as testing out his own game theories using Greece instead of truly fighting for its financial survival.
He wrote how the negotiations to avoid bankruptcy were “not just a way of achieving a better deal for the country. They were an experiment, a monumental opportunity to prove the truth of his economic theories.”
Critical Talks
Amid rollercoaster discussions, Greece found itself dangerously close to leaving the single currency area.
On the line was both Greece's future and those punishing austerity policies required in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including an urgent appeal to Russia to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move which plunged the EU into deeper crisis of identity.
Although the vote was won decisively by those who opposed austerity, the prime minister had little option but to ignore the result and agree to a bailout package from creditors which turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of publications globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, the author concludes how his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
He also claimed how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
The account of history has been met with fury and shock among certain groups, while the former minister has so far maintained a deafening silence regarding these claims.
