In a recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism while he revisits the turbulent period during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, Tsipras appointed the maverick economist Varoufakis as the finance minister largely because of the latter's global profile and his very persuasive skills as a public orator.
“In reality, he was, truthfully, more of a celebrity rather than an economist,” stated Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own motives that included promoting Varoufakis's publications and experimenting with his own game theories using the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote how those talks to stave off bankruptcy were “not just a way of achieving improved terms for Greece. They became an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During tense discussions, Greece came dangerously close to exiting the single currency area.
At stake was both Greece's destiny but also those punishing austerity measures demanded in return for rescue loans from international creditors.
Unsuccessful Options
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Helping Greece was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action that plunged the EU into a deeper existential crisis.
Even though the vote was won decisively by voters who opposed the cuts, Tsipras had little option to ignore the result then negotiate a bailout package with creditors that turned out to be even harsher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a secondary currency as well as distributing vouchers to pensioners, Tsipras knew that it was game over questioning Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
Tsipras further claimed how Varoufakis's aggressive style made him more and more alone among peers, endangered the country, while assisted hardliners that were advocating a Greek exit from the euro.
The retelling of history has been met with anger along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.