In a newly released personal account, named Ithaki, the former leader Tsipras spares no criticism as he revisits the turbulent era during Greece's debt drama.
A Controversial Choice
According to Tsipras's recollections, Tsipras appointed that unorthodox economist Varoufakis as the finance minister largely due to the latter's global profile and Varoufakis's very persuasive abilities as a communicator.
“He was, actually, more of a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims that his finance chief possessed his own motives that involved advancing his books as well as testing out his game theories on the nation instead of genuinely advocating its economic stability.
Tsipras noted how those discussions to prevent insolvency were “not only a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the validity of his theories.”
Critical Negotiations
During tense negotiations, Greece came dangerously close to leaving the eurozone.
At stake was both the country's destiny but also the harsh austerity policies required in return for rescue loans from international creditors.
Unsuccessful Alternatives
Attempts to find funds from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Referendum and Reversal
In July 2015, the excoriating conditions were put to a public vote, an action which plunged the EU into further crisis of identity.
Even though the referendum was won decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed that he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who graced the covers of magazines the world over … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
This retelling of history has provoked anger and shock in some quarters, while the former minister has kept a deafening silence on the matter.
