In a newly released autobiography, called Ithaki, the former prime minister Tsipras spares no criticism while he reflects on that turbulent era during Greece's debt drama.
A Controversial Choice
As per the ex-PM's account, he appointed that maverick academic Varoufakis to be his finance minister primarily because of his worldwide fame and his highly compelling skills as a communicator.
“In reality, he was, truthfully, more like a personality and less of an economic expert,” recalled Tsipras.
Clashing Priorities
The former leader suggests how Varoufakis possessed his own agenda that included advancing Varoufakis's books as well as testing out his economic models on Greece instead of truly fighting for the country's economic stability.
Tsipras noted how the talks to avoid insolvency were “not only a way of achieving a better deal for the country. They were an experiment, a monumental chance to prove the validity of his theories.”
Critical Negotiations
During tense discussions, the country came dangerously close to exiting the eurozone.
At stake was both Greece's destiny but also those harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to find financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were put to a popular referendum, a move which plunged the EU into a further existential crisis.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and agree to a rescue deal with foreign lenders that proved to be even harsher.
Final Straw
Tsipras claimed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the covers of publications the world over … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a parallel currency and issuing vouchers to retirees, the leader knew it was game over and asked him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal that required complex and sensitive handling.”
He further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, endangered the country, while assisted hawks that were pushing for a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, while Varoufakis has so far maintained a deafening silence regarding these claims.
