Within his freshly published personal account, named Ithaki, the ex- prime minister Tsipras does not hold back while he reflects on that turbulent era of Greece's economic turmoil.
An Unconventional Choice
In the ex-PM's recollections, Tsipras selected the unorthodox academic Varoufakis to be the finance minister largely due to the latter's global profile and his highly compelling abilities as a speaker.
“He was, truthfully, more of a star and less of an economic expert,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges that Varoufakis possessed a personal agenda which included advancing Varoufakis's books and experimenting with his game theories on the nation instead of genuinely fighting for the country's financial survival.
He noted how the negotiations to stave off insolvency became “not only a way to secure improved terms for Greece. They became an experiment, a monumental chance to prove the validity of Varoufakis's ideas.”
Critical Talks
Amid rollercoaster negotiations, the country found itself perilously close to leaving the eurozone.
On the line lay not only the country's future and the severe cutbacks required in return for rescue loans from international creditors.
Failed Options
Attempts to find funds elsewhere, such as an urgent plea to the Kremlin to buy Greek government bonds, were rejected.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
In July 2015, those excoriating bailout terms were subjected to a public vote, a move that plunged Europe into deeper crisis of identity.
Even though the vote was won decisively by those who opposed the cuts, the prime minister had little option to ignore the result then agree to a rescue deal with foreign lenders that turned out to be tougher.
Final Straw
Tsipras revealed how he started questioning Varoufakis quite early on.
“He was the public image of negotiation, the man who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
After Varoufakis proposed a contingency plan that included creating a parallel currency as well as distributing vouchers to pensioners, the leader said he realised that it was game over and asked Varoufakis: “Are you serious?”
Enduring Rebuke
Within the memoir, Tsipras concludes that Varoufakis had proved himself to be “unsuitable for a deal that required complex and sensitive management.”
He further claimed that his confrontational style left him more and more alone among peers, put Greece at risk, while assisted hawks that were pushing for Grexit.
This retelling of history has been met with fury and shock in some quarters, while the former minister has maintained a deafening silence regarding these claims.
