In a newly released autobiography, named Ithaki, the ex- premier Tsipras does not hold back as he reflects on the turbulent era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's version, he selected that unorthodox academic Varoufakis to be the treasury head largely due to his worldwide fame and Varoufakis's highly compelling skills as a public orator.
“He was, actually, more like a personality and less of an economic expert,” stated the 51-year-old.
Clashing Agendas
The former leader claims how Varoufakis had a personal agenda which included advancing Varoufakis's books and testing out his theories on the nation instead of genuinely fighting for its financial survival.
He explained that the discussions to prevent insolvency were “not just a method to secure a better deal for Greece. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
During rollercoaster negotiations, the country came dangerously close to leaving the eurozone.
On the line lay not only the country's destiny and those punishing austerity policies required in return for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing elsewhere, including a desperate appeal to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
That summer, those punitive bailout terms were put to a public vote, an action which plunged Europe into a deeper crisis of identity.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras had little option to ignore the result then agree to a bailout package with creditors which proved to be tougher.
Final Straw
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the covers of magazines globally … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy involving establishing a secondary currency as well as distributing coupons to retirees, Tsipras said he realised it was game over questioning him: “Are you serious?”
Enduring Rebuke
In the book, the author asserts that his former ally demonstrated himself “unfit for a deal that required complex and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him increasingly isolated among peers, put Greece at risk, while assisted hardliners that were pushing for Grexit.
This account of events has been met with fury along with stunned disbelief among certain groups, while the former minister has so far kept a conspicuous quiet on the matter.
