In a newly released memoir, named Ithaki, the former prime minister Tsipras spares no criticism as he reflects on that chaotic era during Greece's debt drama.
A Controversial Appointment
In the ex-PM's version, he chose that maverick academic Varoufakis to be the treasury head largely due to the latter's international reputation and his “extremely attractive” abilities when it came to speaker.
“In reality, he was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges that Varoufakis possessed a personal motives which involved advancing Varoufakis's publications as well as testing out his game theories on Greece rather than genuinely advocating its financial survival.
He noted how those negotiations to prevent bankruptcy became “not only a way to secure improved terms for Greece. They became an experiment, an historic chance to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During volatile negotiations, the country came perilously on the brink of leaving the single currency area.
At stake lay both Greece's destiny but also those harsh austerity measures demanded in exchange for bailout funds from international creditors.
Failed Alternatives
Efforts to secure financing from other sources, including an urgent plea to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country was equivalent to tossing cash into the garbage, Putin reportedly informed Tsipras during their meeting.
Public Vote Followed by Reversal
That summer, those punitive conditions were put to a public vote, an action that plunged Europe into deeper crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister had little option to ignore the result and negotiate a rescue deal from creditors which proved to be more severe.
Final Straw
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who drew media attention, who appeared on the covers of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a contingency plan that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself “unfit for an agreement demanding intricate and sensitive handling.”
He also claimed how Varoufakis's aggressive style left him increasingly isolated among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This account of events has provoked anger and stunned disbelief among certain groups, while the former minister has kept a conspicuous quiet on the matter.
