In a recently unveiled autobiography, named Ithaki, the ex- premier Tsipras spares no criticism while he reflects on the turbulent period of Greece's financial crisis.
A Controversial Appointment
In the ex-PM's version, he chose the maverick economist Varoufakis to be his treasury head mainly because of the latter's international reputation along with Varoufakis's very persuasive abilities as a speaker.
“In reality, he was, truthfully, more of a personality and less of an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader claims that his finance chief possessed his own motives that involved promoting Varoufakis's books as well as experimenting with his theories using the nation instead of truly advocating its financial survival.
Tsipras wrote how the talks to prevent insolvency became “not just a method to secure a better deal for the country. They were an experiment, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
During volatile discussions, Greece came perilously on the brink of exiting the eurozone.
On the line was not only Greece's destiny and those severe austerity measures required in exchange for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to Russia to purchase Greek government bonds, fell on stony ground.
Assisting Greece was tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, those punitive conditions were subjected to a popular referendum, a move which threw the EU into deeper crisis of identity.
Although the vote was carried decisively by voters against the cuts, the prime minister had little option to ignore the result then negotiate a bailout package from creditors that proved to be more severe.
Breaking Point
Tsipras revealed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
After Varoufakis proposed a contingency plan involving creating a secondary currency as well as issuing coupons to pensioners, Tsipras said he realised that it was game over questioning Varoufakis: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unfit for a deal demanding intricate and sensitive management.”
Tsipras also claimed that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, while assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger and shock among certain groups, while Varoufakis has so far maintained a deafening silence on the matter.
