Within his freshly published memoir, called Ithaki, the ex- prime minister Tsipras pulls no punches while he reflects on that turbulent era of Greece's financial crisis.
A Controversial Appointment
In Tsipras's recollections, Tsipras selected that maverick economist Varoufakis as the treasury head primarily due to his global profile and his highly compelling skills when it came to speaker.
“He was, in reality, more like a star and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's publications and experimenting with his theories on Greece rather than genuinely fighting for the country's financial survival.
He explained how the discussions to prevent bankruptcy became “not only a way to secure improved terms for the country. They were a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During volatile discussions, Greece came perilously close to exiting the eurozone.
On the line was not only the country's destiny and the harsh austerity measures required in exchange for bailout funds from international creditors.
Unsuccessful Options
Efforts to find funds from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, an action that threw the EU into further existential crisis.
Although the referendum was won resoundingly by voters against the cuts, the prime minister had little option but to ignore the result and agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who attracted publicity, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After Varoufakis proposed a backup strategy involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Lasting Rebuke
In the memoir, the author concludes how Varoufakis demonstrated himself to be “unsuitable for an agreement that required complex and delicate management.”
He also wrote that his aggressive approach left him more and more alone with colleagues, endangered the country, while assisted hawks that were advocating a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
