In a newly released autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism while he revisits the chaotic era during Greece's financial crisis.
A Controversial Choice
In the ex-PM's version, he appointed the unorthodox economist Varoufakis to be the treasury head primarily due to his international reputation and his “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
The former leader claims that Varoufakis had a personal agenda that included promoting Varoufakis's books and experimenting with his own theories using Greece instead of genuinely fighting for its economic stability.
Tsipras explained how the negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to prove the truth of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the single currency area.
At stake was both Greece's destiny but also the harsh austerity measures demanded in return for financial aid from foreign lenders.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to buy Greek bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a popular referendum, a move which threw the EU into further existential crisis.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option to ignore the result then negotiate a bailout package from foreign lenders which turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included creating a secondary currency as well as issuing coupons to pensioners, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that Varoufakis had proved himself “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote that his confrontational style made him increasingly isolated among peers, endangered the country, and assisted hawks who were pushing for a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief in some quarters, whereas the former minister has so far maintained a deafening silence on the matter.
