Within his recently unveiled memoir, called Ithaki, the former leader Tsipras spares no criticism while he examines the turbulent era during Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, he appointed that maverick academic Yanis Varoufakis to be the treasury head largely because of the latter's worldwide fame and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras alleges how his finance chief had a personal motives which included promoting his books and experimenting with his own theories on the nation rather than truly fighting for the country's financial survival.
Tsipras wrote how the discussions to stave off bankruptcy became “not just a method of achieving improved terms for Greece. They became a test, a monumental opportunity to demonstrate the truth of his ideas.”
High-Stakes Negotiations
During rollercoaster discussions, the country found itself perilously close to exiting the single currency area.
On the line was not only Greece's future and the harsh austerity measures required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, the Russian leader is reputed to have informed Tsipras during their meeting.
Referendum Followed by Reversal
That summer, those harsh conditions were subjected to a popular referendum, an action which threw Europe into deeper existential crisis.
Even though the vote was won decisively by those against austerity, Tsipras was forced to reject its outcome and negotiate a rescue deal with foreign lenders that proved to be tougher.
Final Straw
Tsipras claimed that he started questioning his finance minister quite early on.
“Varoufakis was the face of the talks, the figure who drew media attention, who graced the front pages of magazines the world over … it seemed he relished his new role.”
When Varoufakis proposed a backup strategy involving creating a secondary currency and issuing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis had proved himself “unsuitable for a deal demanding intricate and sensitive management.”
He also claimed how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and assisted hardliners that were pushing for Grexit.
This account of history has provoked anger and shock in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
