Within his recently unveiled personal account, called Ithaki, the former prime minister Tsipras does not hold back while he reflects on the turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he appointed that unorthodox economist Varoufakis as the treasury head primarily because of the latter's international reputation and Varoufakis's highly compelling skills when it came to speaker.
“He was, actually, more like a personality rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how Varoufakis had his own motives which involved promoting his books and experimenting with his own economic models on the nation rather than genuinely fighting for its financial survival.
He noted that the discussions to stave off bankruptcy were “not just a method to secure improved terms for the country. They were an experiment, an historic chance to prove the validity of Varoufakis's theories.”
Critical Talks
Amid tense negotiations, the country found itself perilously on the brink of exiting the eurozone.
On the line was both Greece's destiny but also those severe cutbacks required in return for rescue loans by international creditors.
Failed Alternatives
Efforts to find funds elsewhere, such as an urgent appeal to the Kremlin to purchase 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 his Greek counterpart in Moscow.
Public Vote and U-Turn
In July 2015, the harsh bailout terms were put to a popular referendum, a move which plunged Europe into a deeper existential crisis.
Even though the vote was won decisively by those against the cuts, the prime minister was forced but to reject its outcome and agree to a rescue deal from creditors which turned out to be tougher.
Final Straw
Tsipras revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who drew publicity, who graced the front pages of magazines globally … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, Tsipras asserts that his former ally had proved himself “unsuitable for a deal that required complex and delicate management.”
He also wrote how Varoufakis's confrontational approach made him more and more alone with colleagues, endangered the country, and helped hardliners who were pushing for a Greek exit from the euro.
The retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has kept a conspicuous quiet regarding these claims.
