Within his recently unveiled memoir, called Ithaki, the ex- leader Alexis Tsipras spares no criticism as he revisits that turbulent era during Greece's financial crisis.
A Controversial Choice
As per the ex-PM's recollections, he appointed that unorthodox economist Varoufakis as the finance minister mainly due to the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis had a personal motives which included promoting Varoufakis's publications and experimenting with his own economic models on the nation rather than truly fighting for its financial survival.
Tsipras explained that the negotiations to prevent insolvency were “not just a way to secure a better deal for the country. They became an experiment, an historic opportunity to demonstrate the truth of his economic theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously close to leaving the single currency area.
At stake was both Greece's future but also those severe austerity policies required in exchange for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by Reversal
That summer, those excoriating conditions were put to a popular referendum, an action that plunged the EU into deeper existential crisis.
Although the referendum was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister quite early on.
“He was the public image of the talks, the man who attracted media attention, who appeared on the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He further wrote that Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while helped hardliners who were advocating Grexit.
The account of events has been met with anger along with shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
