Within his newly released autobiography, called Ithaki, the former prime minister Tsipras does not hold back while he revisits that chaotic era during Greece's debt drama.
A Controversial Appointment
According to Tsipras's version, Tsipras chose the maverick economist Varoufakis as the treasury head largely due to the latter's global profile and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, actually, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed his own motives that involved promoting Varoufakis's books and testing out his theories on the nation instead of genuinely advocating its economic stability.
He explained that the discussions to stave off insolvency became “not only a method of achieving a better deal for the country. They were an experiment, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came dangerously on the brink of leaving the eurozone.
On the line lay both the country's future and the punishing austerity policies required in return for financial aid from international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, including an urgent appeal to the Kremlin to buy Greek bonds, fell on stony ground.
Helping the indebted country was tantamount to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
That summer, those harsh conditions were put to a public vote, an action which threw Europe into a further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister was forced but to reject its outcome and negotiate a bailout package with creditors which turned out to be more severe.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines globally … he gave the impression he was enjoying his new role.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as issuing coupons to retirees, Tsipras knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the book, the author asserts that his former ally had proved himself to be “unfit for an agreement that required intricate and sensitive management.”
Tsipras also wrote that his aggressive style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a deafening silence regarding these claims.
