In a newly released personal account, named Ithaki, the former leader Tsipras spares no criticism as he examines that turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's recollections, Tsipras chose that maverick economist Varoufakis as his finance minister primarily due to the latter's global profile and Varoufakis's “extremely attractive” skills as a speaker.
“In reality, he was, truthfully, more like a celebrity rather than an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader claims how Varoufakis had a personal agenda that involved promoting his books and testing out his own theories on Greece instead of truly fighting for the country's financial survival.
He explained how those talks to prevent insolvency became “not just a way of achieving a better deal for the country. They were a test, an historic chance to prove the truth of his economic theories.”
Critical Negotiations
Amid tense negotiations, Greece found itself perilously close to leaving the eurozone.
At stake lay not only Greece's destiny and those harsh austerity policies demanded in return for financial aid from foreign lenders.
Failed Options
Efforts to find funds from other sources, including a desperate appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option but to ignore the result and negotiate a bailout package from creditors that proved to be even harsher.
Breaking Point
Tsipras revealed that he started questioning his finance minister quite early on.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
When the minister outlined a contingency plan that included establishing a secondary currency as well as distributing vouchers to retirees, the leader knew it was the end and asked him: “Is this for real?”
Lasting Criticism
In the book, the author asserts how Varoufakis demonstrated himself to be “unfit for a deal demanding intricate and sensitive handling.”
Tsipras further claimed how his confrontational style left him more and more alone with colleagues, put Greece at risk, and assisted hardliners who were pushing for Grexit.
This retelling of events has provoked anger along with shock in some quarters, whereas the former minister has maintained a conspicuous quiet on the matter.