Within his recently unveiled autobiography, named Ithaki, the former leader Tsipras does not hold back while he revisits the turbulent era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, he selected the unorthodox academic Varoufakis to be his treasury head largely because of the latter's global profile and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, actually, more like a celebrity rather than an economist,” stated the 51-year-old.
Conflicting Priorities
Tsipras alleges how Varoufakis possessed his own motives which included promoting his books and experimenting with his theories on Greece rather than genuinely advocating its financial survival.
Tsipras wrote how those negotiations to avoid insolvency became “not only a method of achieving a better deal for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
High-Stakes Negotiations
During volatile discussions, the country came perilously on the brink of exiting the single currency area.
At stake was not only Greece's destiny and those harsh austerity measures demanded in return 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.
Assisting Greece was equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Although the vote was won resoundingly by those against the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from foreign lenders that turned out to be even harsher.
Final Straw
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was game over questioning Varoufakis: “Are you serious?”
Enduring Criticism
In the memoir, Tsipras asserts that his former ally had proved himself to be “unsuitable for a deal demanding complex and sensitive management.”
He also wrote how Varoufakis's aggressive approach made him increasingly isolated with colleagues, endangered the country, while assisted hardliners that were pushing for Grexit.
The retelling of history has been met with anger along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
