In a recently unveiled personal account, called Ithaki, the former leader Tsipras pulls no punches as he examines that chaotic period during Greece's economic turmoil.
A Controversial Choice
As per Tsipras's version, Tsipras selected the maverick economist Varoufakis as his finance minister largely due to the latter's worldwide fame and Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, in reality, more of a celebrity and less of an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras claims that his finance chief possessed his own agenda that included promoting Varoufakis's publications and experimenting with his own game theories on Greece rather than truly fighting for the country's financial survival.
Tsipras explained how the negotiations to prevent insolvency were “not only a method of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of his theories.”
High-Stakes Negotiations
During rollercoaster discussions, the country came dangerously close to leaving the eurozone.
At stake was not only the country's destiny but also the severe austerity measures demanded in return for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Assisting the indebted country would be tantamount to throwing money into the garbage, Putin is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, the punitive bailout terms were put to a public vote, an action which threw Europe into further existential crisis.
Even though the vote was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with creditors that proved to be even harsher.
Breaking Point
The ex-PM revealed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he relished his new role.”
After the minister proposed a backup strategy that included creating a parallel currency as well as distributing coupons to pensioners, the leader said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
Tsipras further wrote that Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The retelling of events has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
