Within his freshly published personal account, called Ithaki, the former leader Tsipras spares no criticism as he reflects on that chaotic era of Greece's economic turmoil.
An Unconventional Appointment
As per Tsipras's recollections, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head primarily because of the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” recalled the 51-year-old.
Clashing Agendas
The former leader alleges how Varoufakis had his own agenda which included advancing Varoufakis's publications and testing out his economic models on Greece rather than genuinely fighting for the country's economic stability.
Tsipras wrote that the talks to avoid bankruptcy were “not only a method to secure a better deal for Greece. They were an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
On the line lay both the country's future and the punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, including an urgent plea to the Kremlin to buy Greek government bonds, went unanswered.
Helping the indebted country was tantamount to tossing cash in the trash-can, Putin reportedly informed Tsipras in Moscow.
Referendum and U-Turn
That summer, those excoriating bailout terms were subjected to a public vote, an action which plunged Europe into a further existential crisis.
Even though the referendum was won resoundingly by voters who opposed austerity, the prime minister was forced to reject its outcome and negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who attracted media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister outlined a backup strategy that included creating a parallel currency as well as issuing vouchers to retirees, Tsipras knew it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the book, the author concludes how Varoufakis demonstrated himself “unfit for a deal demanding intricate and delicate management.”
He further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
