In a newly released autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he examines that turbulent period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's version, he selected the unorthodox economist Varoufakis as his finance minister largely due to his global profile and his “extremely attractive” skills when it came to communicator.
“He was, truthfully, more like a star and less of an economist,” stated the 51-year-old.
Clashing Agendas
Tsipras alleges that his finance chief possessed his own motives that included promoting his publications and testing out his economic models on the nation rather than genuinely advocating the country's financial survival.
He noted how the negotiations to stave off bankruptcy were “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously close to leaving the single currency area.
At stake lay both the country's destiny and the harsh cutbacks required in return for bailout funds by international creditors.
Failed Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those excoriating bailout terms were put to a public vote, an action that plunged Europe into deeper existential crisis.
Although the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome and agree to a bailout package from foreign lenders that turned out to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the figure who attracted publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, the leader said he realised it was game over and asked him: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for a deal demanding complex and delicate management.”
He also wrote that his aggressive approach left him more and more alone among peers, put Greece at risk, and helped hardliners that were pushing for Grexit.
This account of history has been met with fury along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
