In a freshly published autobiography, called Ithaki, the former leader Tsipras spares no criticism while he revisits that chaotic period of Greece's financial crisis.
An Unconventional Appointment
In Tsipras's recollections, Tsipras chose the unorthodox economist Varoufakis to be the treasury head largely due to his worldwide fame along with his very persuasive abilities when it came to communicator.
“In reality, he was, actually, more like a star rather than an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis possessed his own agenda which involved promoting Varoufakis's publications as well as testing out his own economic models on Greece instead of genuinely fighting for its economic stability.
Tsipras explained that those discussions to avoid bankruptcy became “not only a way of achieving a better deal for the country. They became an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile negotiations, Greece came dangerously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also the punishing austerity policies required in exchange for bailout funds from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Helping the indebted country was tantamount to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the punitive conditions were subjected to a public vote, an action which threw the EU into a further existential crisis.
Even though the referendum was won resoundingly by those against austerity, the prime minister was forced to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving creating a secondary currency as well as distributing vouchers to pensioners, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, Tsipras asserts how his former ally had proved himself “unfit for an agreement demanding intricate and sensitive management.”
He also wrote that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
The account of history has been met with anger and shock among certain groups, whereas Varoufakis has kept a deafening silence on the matter.
