In a recently unveiled autobiography, titled Ithaki, the ex- leader Tsipras pulls no punches while he revisits the chaotic period during Greece's debt drama.
An Unconventional Choice
In Tsipras's account, he chose the unorthodox economist Varoufakis to be his finance minister mainly because of the latter's global profile and Varoufakis's very persuasive skills when it came to public orator.
“He was, actually, more like a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras suggests how his finance chief possessed his own motives that involved promoting Varoufakis's books and experimenting with his theories on Greece rather than genuinely fighting for its economic stability.
Tsipras noted how those negotiations to avoid bankruptcy became “not only a method of achieving a better deal for Greece. They became a test, a monumental chance to demonstrate the validity of Varoufakis's theories.”
Critical Talks
Amid rollercoaster negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay both the country's destiny and the harsh austerity measures demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader reportedly informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, an action which plunged the EU into deeper existential crisis.
Although the vote was won decisively by voters who opposed austerity, the prime minister had little option to reject its outcome and negotiate a rescue deal from creditors which turned out to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who drew publicity, who appeared on the covers of publications the world over … he gave the impression he relished his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and distributing vouchers to retirees, Tsipras knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
Within the memoir, the author asserts that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive handling.”
Tsipras further wrote that Varoufakis's aggressive approach made him more and more alone with colleagues, endangered the country, and assisted hardliners who were advocating a Greek exit from the euro.
This retelling of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
