Within his freshly published autobiography, called Ithaki, the former premier Tsipras pulls no punches as he revisits the chaotic era of Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, he chose that unorthodox economist Varoufakis to be the treasury head largely because of the latter's global profile along with Varoufakis's highly compelling skills as a public orator.
“In reality, he was, actually, more of a star and less of an economic expert,” wrote Tsipras.
Clashing Agendas
Tsipras claims how his finance chief possessed his own motives which included promoting his publications and experimenting with his own game theories on Greece rather than truly fighting for its financial survival.
He noted that those talks to prevent insolvency were “not only a way to secure a better deal for the country. They were an experiment, an historic chance to prove the validity of his economic theories.”
Critical Negotiations
Amid rollercoaster negotiations, the country came perilously close to leaving the eurozone.
On the line was both Greece's future and the punishing austerity measures required in exchange for rescue loans from international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, including a desperate plea to Russia to buy Greek bonds, were rejected.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
That summer, the excoriating bailout terms were subjected to a public vote, a move that threw Europe into a further crisis of identity.
Even though the vote was carried resoundingly by those who opposed austerity, the prime minister was forced but to ignore the result then agree to a rescue deal from foreign lenders that turned out to be more severe.
Final Straw
Tsipras revealed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who attracted publicity, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
After Varoufakis outlined a backup strategy involving establishing a parallel currency as well as distributing coupons to retirees, the leader knew that it was the end and asked him: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally demonstrated himself “unsuitable for a deal that required intricate and delicate management.”
He further claimed that Varoufakis's confrontational style made him increasingly isolated among peers, endangered the country, while helped hawks that were pushing for Grexit.
This retelling of history has been met with fury along with stunned disbelief in some quarters, while Varoufakis has kept a conspicuous quiet on the matter.
