Within his recently unveiled autobiography, named Ithaki, the ex- leader Tsipras spares no criticism while he reflects on that chaotic period during Greece's debt drama.
A Controversial Choice
According to the ex-PM's account, he selected the maverick economist Varoufakis as his treasury head largely because of the latter's international reputation and his “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
Tsipras alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's books and testing out his game theories on the nation instead of genuinely advocating its financial survival.
He noted how those talks to stave off bankruptcy were “not only a method to secure improved terms for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile discussions, the country found itself dangerously close to leaving the eurozone.
At stake was both Greece's future but also the punishing austerity measures required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, the harsh bailout terms were subjected to a popular referendum, a move which plunged Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a rescue deal with foreign lenders which turned out to be even harsher.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a backup strategy that included creating a parallel currency and issuing coupons to retirees, Tsipras knew that it was the end and asked him: “Is this for real?”
Enduring Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal that required complex and sensitive management.”
Tsipras further wrote that his confrontational approach made him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
This account of history has provoked fury and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
