In a newly released personal account, named Ithaki, the former leader Tsipras spares no criticism as he revisits the chaotic era of Greece's economic turmoil.
A Controversial Choice
According to the ex-PM's account, Tsipras chose the maverick economist Varoufakis as the finance minister primarily because of the latter's international reputation along with Varoufakis's highly compelling abilities when it came to speaker.
“In reality, he was, truthfully, more of a star rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras suggests that his finance chief possessed a personal motives that included advancing his books as well as experimenting with his theories on the nation rather than truly fighting for its economic stability.
Tsipras wrote that those negotiations to avoid insolvency became “not just a way to secure improved terms for the country. They became an experiment, an historic chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Talks
During tense negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was not only the country's future but also those punishing austerity measures demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, including an urgent appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country was equivalent to throwing money into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive bailout terms were put to a public vote, a move which plunged the EU into a further existential crisis.
Even though the referendum was carried resoundingly by those against the cuts, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the man who drew media attention, who appeared on the covers of publications globally … it seemed he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included creating a parallel currency and issuing vouchers to pensioners, Tsipras said he realised it was the end and asked him: “Are you serious?”
Lasting Rebuke
Within the book, the author asserts how his former ally had proved himself to be “unfit for an agreement that required complex and sensitive handling.”
He further wrote that Varoufakis's aggressive style left him increasingly isolated with colleagues, put Greece at risk, while helped hawks that were pushing for a Greek exit from the euro.
This account of history has been met with fury and stunned disbelief in some quarters, whereas Varoufakis has so far kept a conspicuous quiet on the matter.
