Within his recently unveiled autobiography, named Ithaki, the former leader Tsipras spares no criticism while he reflects on that turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's account, he appointed that unorthodox economist Varoufakis as his finance minister mainly because of the latter's worldwide fame along with Varoufakis's “extremely attractive” skills as a public orator.
“He was, truthfully, more of a personality and less of an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras claims how Varoufakis had a personal motives that included advancing his publications and experimenting with his theories on the nation instead of genuinely fighting for the country's economic stability.
He noted that those talks to avoid bankruptcy were “not just a method of achieving a better deal for the country. They were a test, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Negotiations
Amid volatile negotiations, the country found itself perilously on the brink of leaving the single currency area.
On the line lay not only Greece's future and the severe cutbacks required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek government bonds, were rejected.
Helping Greece would be equivalent to throwing money into the garbage, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the punitive conditions were subjected to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the referendum was carried resoundingly by those against austerity, Tsipras had little option to reject its outcome and agree to a bailout package with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras claimed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he relished his new role.”
When the minister outlined a contingency plan that included creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was game over questioning Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, the author asserts that Varoufakis had proved himself “unfit for a deal that required intricate and delicate handling.”
He further claimed that his aggressive approach left him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The retelling of history has been met with fury along with shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
