In a newly released personal account, called Ithaki, the ex- prime minister Tsipras spares no criticism as he reflects on that chaotic period during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, he chose the maverick economist Varoufakis as the finance minister mainly due to the latter's global profile and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more of a star rather than an economic expert,” stated the 51-year-old.
Conflicting Agendas
Tsipras alleges how Varoufakis had his own motives which involved advancing Varoufakis's books as well as experimenting with his own game theories using the nation rather than truly advocating its economic stability.
Tsipras noted that the negotiations to avoid insolvency were “not only a method to secure a better deal for Greece. They became a test, an historic opportunity to prove the truth of Varoufakis's ideas.”
High-Stakes Talks
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny and those harsh austerity policies required in exchange for financial aid by foreign lenders.
Unsuccessful Options
Efforts to secure funds from other sources, such as an urgent plea to Russia to buy Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money into the garbage, the Russian leader reportedly told Tsipras in Moscow.
Public Vote and Reversal
That summer, those excoriating bailout terms were subjected to a public vote, an action which threw the EU into a further crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras had little option but to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis quite early on.
“He was the face of negotiation, the man who drew media attention, who appeared on 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 and issuing coupons to pensioners, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Lasting Criticism
In the memoir, the author concludes how Varoufakis had proved himself “unfit for an agreement demanding intricate and sensitive management.”
He further claimed how his aggressive style made him more and more alone among peers, put Greece at risk, and helped hardliners who were advocating Grexit.
The account of history has been met with anger and stunned disbelief in some quarters, while the former minister has kept a deafening silence on the matter.
