In a newly released autobiography, named Ithaki, the former premier Tsipras pulls no punches as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
In Tsipras's account, Tsipras chose that maverick economist Varoufakis to be the treasury head mainly due to the latter's international reputation along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, in reality, more of a star and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own agenda which involved promoting Varoufakis's books and experimenting with his own game theories using the nation rather than genuinely fighting for its economic stability.
Tsipras explained how the negotiations to stave off bankruptcy became “not just a method to secure improved terms for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of exiting the single currency area.
On the line was not only the country's future but also those punishing austerity measures required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, such as a desperate plea to the Kremlin to purchase Greek government bonds, were rejected.
Helping Greece was equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote Followed by Reversal
That summer, those excoriating bailout terms were subjected to a public vote, a move that threw Europe into a deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, the prime minister had little option but to ignore the result then negotiate a bailout package from creditors that proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the front pages of publications the world over … it seemed he relished his new role.”
When the minister outlined a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Enduring Rebuke
In the memoir, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal demanding complex and sensitive management.”
He further wrote that his confrontational approach left him more and more alone among peers, put Greece at risk, while helped hawks that were pushing for Grexit.
This account of events has provoked fury along with shock in some quarters, whereas the former minister has so far kept a deafening silence on the matter.
