Within his freshly published personal account, called Ithaki, the ex- leader Tsipras pulls no punches while he examines that turbulent period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's account, Tsipras chose the unorthodox academic Varoufakis as his treasury head primarily due to his worldwide fame and his highly compelling skills as a speaker.
“In reality, he was, truthfully, more like a star rather than an economic expert,” wrote Tsipras.
Conflicting Agendas
Tsipras suggests how his finance chief possessed his own agenda that involved advancing Varoufakis's publications and experimenting with his economic models on the nation rather than genuinely advocating its financial survival.
He noted how the talks to prevent insolvency became “not only a way to secure improved terms for the country. They became an experiment, a monumental chance to demonstrate the truth of Varoufakis's ideas.”
Critical Talks
Amid tense negotiations, Greece found itself dangerously on the brink of leaving the eurozone.
On the line lay not only Greece's future and the punishing austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to buy Greek bonds, were rejected.
Helping Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were subjected to a popular referendum, a move which threw Europe into a further existential crisis.
Even though the vote was won resoundingly by those against austerity, the prime minister had little option to reject its outcome and negotiate a bailout package with foreign lenders which turned out to be more severe.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis relatively soon.
“He was the face of negotiation, the figure who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a backup strategy that included creating a secondary currency as well as distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
Tsipras also wrote that Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, and assisted hawks who were pushing for Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
