In a newly released autobiography, called Ithaki, the ex- prime minister Tsipras spares no criticism as he revisits that turbulent period during Greece's debt drama.
An Unconventional Appointment
According to the ex-PM's account, he chose the maverick economist Varoufakis to be his treasury head mainly because of his worldwide fame along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a star and less of an economic expert,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own agenda which included advancing Varoufakis's books and testing out his game theories on the nation instead of truly fighting for the country's financial survival.
He noted how those negotiations to stave off insolvency were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the truth of his economic theories.”
High-Stakes Talks
During volatile negotiations, Greece came dangerously close to leaving the single currency area.
On the line was both the country's future and those harsh austerity policies demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action that plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and negotiate a bailout package from creditors that turned out to be more severe.
Final Straw
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted publicity, who graced the front pages of publications globally … he gave the impression he relished his new role.”
When Varoufakis outlined a backup strategy involving establishing a parallel currency as well as issuing vouchers to pensioners, Tsipras knew that it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive approach made him more and more alone with colleagues, put Greece at risk, while assisted hardliners who were advocating a Greek exit from the euro.
The retelling of events has provoked anger along with shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
