In a recently unveiled autobiography, named Ithaki, the former leader Tsipras pulls no punches as he examines that chaotic era during Greece's debt drama.
A Controversial Choice
In the ex-PM's version, he chose that unorthodox economist Varoufakis as the treasury head largely because of the latter's global profile along with his highly compelling abilities as a public orator.
“He was, truthfully, more of a personality rather than an economic expert,” stated the 51-year-old.
Clashing Agendas
Tsipras claims that his finance chief possessed his own motives that involved advancing Varoufakis's books and experimenting with his economic models on Greece rather than genuinely advocating the country's financial survival.
He wrote how those talks to prevent bankruptcy were “not only a method of achieving improved terms for Greece. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
High-Stakes Negotiations
Amid tense discussions, the country came dangerously close to leaving the single currency area.
On the line was not only the country's destiny and the punishing austerity policies demanded in return for bailout funds from foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to the Kremlin to buy Greek government bonds, were rejected.
Assisting Greece would be equivalent to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote Followed by U-Turn
In July 2015, those excoriating conditions were put to a popular referendum, a move that threw Europe into deeper existential crisis.
Even though the referendum was won resoundingly by those who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders which proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a contingency plan that included establishing a parallel currency and distributing vouchers to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras concludes how Varoufakis demonstrated himself “unfit for an agreement that required intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive style left him increasingly isolated among peers, put Greece at risk, while assisted hawks who were advocating a Greek exit from the euro.
This account of events has been met with anger and shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
