In a recently unveiled personal account, called Ithaki, the ex- premier Tsipras spares no criticism as he revisits that turbulent period of Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's account, Tsipras chose that maverick economist Varoufakis to be the finance minister primarily due to the latter's international reputation and his very persuasive abilities as a communicator.
“In reality, he was, in reality, more like a star rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests how his finance chief possessed a personal agenda that involved promoting Varoufakis's books and experimenting with his economic models using Greece rather than truly fighting for its financial survival.
Tsipras explained that those talks to prevent insolvency became “not just a way to secure a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster negotiations, the country found itself dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny and those harsh austerity policies required in exchange for rescue loans from foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece was equivalent to tossing cash in the trash-can, Putin reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, the punitive bailout terms were put to a public vote, a move that threw the EU into a further crisis of identity.
Even though the vote was won decisively by voters against austerity, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed how he started questioning his finance minister relatively soon.
“He was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras said he realised that it was the end and asked him: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras asserts that his former ally had proved himself “unfit for an agreement that required complex and sensitive management.”
Tsipras further claimed that his aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for Grexit.
This retelling of history has been met with fury and shock among certain groups, while the former minister has maintained a deafening silence regarding these claims.
