In a freshly published memoir, titled Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Choice
According to Tsipras's recollections, he appointed the unorthodox economist Varoufakis to be the treasury head mainly due to the latter's worldwide fame along with his very persuasive skills as a speaker.
“He was, actually, more like a star rather than an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests that his finance chief possessed his own agenda which involved promoting his books as well as experimenting with his own game theories on the nation instead of truly advocating its financial survival.
He noted how those discussions to stave off bankruptcy were “not just a method of achieving a better deal for the country. They were an experiment, an historic opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, the country came dangerously on the brink of leaving the eurozone.
At stake was both the country's destiny and those harsh austerity policies demanded in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
In July 2015, those punitive conditions were put to a public vote, an action that plunged the EU into further crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras had little option but to ignore the result then agree to a bailout package with creditors that proved to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“He was the face of negotiation, the figure who attracted media attention, who graced the front pages of publications globally … it seemed he relished the spotlight.”
After the minister proposed a contingency plan involving creating a parallel currency as well as distributing coupons to retirees, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes that Varoufakis demonstrated himself to be “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed that Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, while helped hardliners who were advocating Grexit.
This retelling of events has provoked fury along with shock among certain groups, while the former minister has so far kept a deafening silence on the matter.