In a freshly published personal account, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the chaotic era during Greece's financial crisis.
An Unconventional Choice
In the ex-PM's version, he selected the maverick academic Varoufakis as the finance minister primarily because of his worldwide fame and his very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more of a star rather than an economic expert,” wrote the 51-year-old.
Conflicting Agendas
The former leader claims how Varoufakis possessed his own motives which included advancing his publications and testing out his own economic models using Greece rather than genuinely advocating the country's financial survival.
Tsipras explained how those talks to avoid bankruptcy were “not only a method of achieving improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
During rollercoaster discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay both Greece's destiny and the harsh austerity policies demanded in return for rescue loans by international creditors.
Failed Options
Efforts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Assisting Greece would be tantamount to tossing cash into the garbage, Putin is reputed to have told Tsipras in Moscow.
Public Vote and U-Turn
In July 2015, the harsh conditions were put to a popular referendum, an action which plunged the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal from creditors that turned out to be tougher.
Breaking Point
Tsipras claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who graced the covers of magazines the world over … it seemed he was enjoying his new role.”
After Varoufakis outlined a contingency plan involving creating a secondary currency and distributing coupons to pensioners, Tsipras knew it was the end questioning him: “Are you serious?”
Enduring Rebuke
In the memoir, the author asserts that his former ally had proved himself “unfit for a deal demanding complex and delicate handling.”
Tsipras also wrote that his aggressive approach left him increasingly isolated with colleagues, endangered the country, while assisted hardliners who were pushing for a Greek exit from the euro.
This account of history has been met with fury and shock in some quarters, whereas Varoufakis has so far maintained a conspicuous quiet regarding these claims.
