Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's recollections, he appointed the unorthodox economist Varoufakis to be his treasury head primarily due to the latter's global profile along with Varoufakis's highly compelling abilities when it came to speaker.
“He was, truthfully, more like a personality rather than an economist,” stated the 51-year-old.
Clashing Priorities
Tsipras alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's books and testing out his own economic models on the nation instead of truly fighting for its financial survival.
He noted how the discussions to stave off bankruptcy were “not only a method of achieving improved terms for the country. They became a test, an historic chance to demonstrate the truth of his economic theories.”
High-Stakes Negotiations
During volatile negotiations, the country came perilously on the brink of exiting the eurozone.
On the line lay both the country's future and the punishing cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to find financing elsewhere, such as an urgent appeal to Russia to purchase Greek government bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those punitive conditions were put to a public vote, a move which plunged the EU into further crisis of identity.
Even though the vote was won resoundingly by those who opposed austerity, Tsipras was forced but to ignore the result then agree to a rescue deal from creditors that proved to be tougher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy involving establishing a parallel currency as well as issuing coupons to pensioners, Tsipras said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the book, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and sensitive handling.”
He further wrote how his aggressive approach left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for Grexit.
The retelling of history has provoked fury and shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
