In a recently unveiled autobiography, called Ithaki, the former leader Tsipras spares no criticism as he revisits that chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he selected the unorthodox academic Varoufakis to be his treasury head largely due to his global profile along with Varoufakis's very persuasive skills when it came to speaker.
“He was, truthfully, more of a personality and less of an economic expert,” stated Tsipras.
Conflicting Agendas
Tsipras suggests how Varoufakis possessed his own motives that included promoting his books as well as testing out his economic models on the nation instead of truly fighting for its financial survival.
He explained that those talks to avoid insolvency became “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously close to leaving the eurozone.
At stake was not only the country's destiny but also those punishing cutbacks demanded in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to find funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
That summer, the excoriating bailout terms were subjected to a public vote, an action which plunged Europe into further existential crisis.
Although the referendum was carried resoundingly by voters against austerity, Tsipras was forced but to reject its outcome then agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the public image of the talks, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and distributing vouchers to pensioners, the leader said he realised that it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
He further wrote that Varoufakis's confrontational approach made him increasingly isolated with colleagues, put Greece at risk, while helped hardliners that were advocating Grexit.
This retelling of events has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has kept a conspicuous quiet regarding these claims.
