In a newly released autobiography, titled Ithaki, the ex- leader Tsipras spares no criticism while he revisits that chaotic era of Greece's debt drama.
An Unconventional Appointment
According to Tsipras's version, Tsipras appointed the maverick economist Varoufakis as his finance minister mainly because of his global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“In reality, he was, actually, more like a personality rather than an economist,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that his finance chief possessed his own agenda which involved advancing Varoufakis's publications and experimenting with his own theories using Greece instead of truly advocating the country's economic stability.
Tsipras explained how the negotiations to avoid bankruptcy became “not just a method of achieving a better deal for the country. They were an experiment, a monumental opportunity to demonstrate the truth of his economic theories.”
Critical Talks
During rollercoaster discussions, Greece came dangerously on the brink of leaving the single currency area.
On the line was both the country's destiny and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including a desperate plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum Followed by Reversal
In July 2015, the punitive bailout terms were subjected to a public vote, an action which threw the EU into a further existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option but to reject its outcome then agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed that he began to doubt his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of publications the world over … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included creating a secondary currency and issuing coupons to pensioners, the leader knew that it was the end questioning him: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
He also claimed how Varoufakis's confrontational style left him more and more alone with colleagues, put Greece at risk, while helped hardliners that were pushing for a Greek exit from the euro.
The account of history has been met with fury along with stunned disbelief in some quarters, whereas Varoufakis has so far maintained a deafening silence regarding these claims.
