In a freshly published autobiography, called Ithaki, the former premier Tsipras spares no criticism while he revisits that chaotic era during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, he selected that maverick economist Varoufakis as his treasury head largely due to the latter's worldwide fame along with his very persuasive skills when it came to public orator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras claims that Varoufakis had a personal motives which included advancing Varoufakis's books as well as testing out his own theories using Greece instead of genuinely fighting for the country's economic stability.
Tsipras noted how the negotiations to prevent insolvency were “not just a method to secure improved terms for Greece. They became a test, an historic opportunity to prove the validity of his ideas.”
High-Stakes Talks
Amid volatile negotiations, the country found itself perilously close to exiting the eurozone.
At stake lay both Greece's future and the severe austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, such as a desperate plea to Russia to purchase Greek government bonds, went unanswered.
Helping Greece would be equivalent to tossing cash in the trash-can, the Russian leader reportedly informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, the harsh conditions were put to a popular referendum, an action which plunged the EU into deeper existential crisis.
Even though the vote was carried decisively by voters who opposed the cuts, Tsipras was forced but to ignore the result and agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who drew media attention, who graced the front pages of magazines the world over … he gave the impression he was enjoying his new role.”
When Varoufakis proposed a backup strategy involving creating a parallel currency and issuing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Is this for real?”
Enduring Criticism
In the book, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
He further wrote how his confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating a Greek exit from the euro.
The retelling of events has been met with fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet regarding these claims.
