Within his recently unveiled autobiography, titled Ithaki, the ex- premier Tsipras spares no criticism as he examines that chaotic period of Greece's financial crisis.
A Controversial Appointment
According to Tsipras's version, he selected that maverick economist Varoufakis as the finance minister primarily due to the latter's international reputation and his very persuasive abilities as a public orator.
“He was, truthfully, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own motives which included advancing his books as well as testing out his own economic models on Greece instead of truly fighting for the country's economic stability.
He wrote that the talks to avoid insolvency were “not only a way of achieving improved terms for Greece. They were an experiment, an historic chance to prove the truth of his theories.”
Critical Negotiations
Amid tense discussions, Greece came dangerously close to leaving the eurozone.
On the line lay not only Greece's future and those harsh austerity policies demanded in exchange for financial aid from international creditors.
Unsuccessful Alternatives
Efforts to find funds from other sources, such as a desperate plea to Russia to buy Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a popular referendum, an action that plunged Europe into further existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras had little option to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister relatively soon.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister outlined a backup strategy involving creating a parallel currency and distributing vouchers to retirees, Tsipras said he realised that it was the end and asked him: “Is this for real?”
Lasting Criticism
In the memoir, the author concludes that his former ally had proved himself to be “unsuitable for a deal that required complex and delicate handling.”
He also wrote that Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with anger and stunned disbelief in some quarters, while the former minister has kept a deafening silence regarding these claims.
