In a newly released autobiography, called Ithaki, the ex- prime minister Tsipras pulls no punches while he examines that chaotic period during Greece's economic turmoil.
A Controversial Appointment
In the ex-PM's version, he appointed the maverick academic Varoufakis as the finance minister mainly because of his international reputation along with Varoufakis's highly compelling abilities when it came to communicator.
“In reality, he was, in reality, more of a personality and less of an economist,” wrote Tsipras.
Conflicting Priorities
The former leader alleges how Varoufakis had his own motives which included promoting his books as well as experimenting with his economic models using Greece rather than truly fighting for its economic stability.
He noted how those talks to avoid bankruptcy were “not only a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, the country came dangerously on the brink of exiting the single currency area.
On the line lay not only the country's future and the punishing cutbacks demanded in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting the indebted country would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Referendum Followed by U-Turn
In July 2015, those punitive bailout terms were put to a public vote, an action which threw Europe into a deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, the prime minister had little option to ignore the result then agree to a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying his new role.”
When the minister proposed a backup strategy involving establishing a secondary currency and issuing vouchers to pensioners, the leader knew it was the end questioning him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for a deal demanding complex and delicate management.”
Tsipras further wrote that Varoufakis's confrontational approach left him increasingly isolated with colleagues, endangered the country, while helped hardliners that were advocating Grexit.
This account of history has been met with fury and stunned disbelief in some quarters, whereas the former minister has kept a conspicuous quiet regarding these claims.
