In a freshly published memoir, titled Ithaki, the former prime minister Tsipras spares no criticism as he examines the chaotic period during Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, he selected the unorthodox economist Varoufakis as the treasury head primarily because of his international reputation and his highly compelling skills as a communicator.
“He was, actually, more like a celebrity rather than an economic expert,” wrote the 51-year-old.
Clashing Agendas
The former leader alleges that his finance chief had his own agenda that involved advancing his books as well as testing out his own game theories using Greece rather than genuinely advocating the country's financial survival.
He explained how those discussions to stave off bankruptcy became “not only a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his theories.”
Critical Negotiations
Amid tense negotiations, the country came dangerously on the brink of exiting the eurozone.
On the line lay not only the country's destiny but also those harsh austerity measures demanded in return for rescue loans from international creditors.
Failed Alternatives
Efforts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, a move that plunged the EU into a deeper existential crisis.
Even though the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM revealed that he started questioning his finance minister quite early on.
“He was the public image of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished his new role.”
When the minister outlined a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, the leader knew it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author concludes how Varoufakis had proved himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras further wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, and assisted hardliners that were pushing for Grexit.
This retelling of events has provoked anger and shock among certain groups, while the former minister has so far maintained a deafening silence on the matter.
