Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras does not hold back as he reflects on that turbulent era of Greece's economic turmoil.
A Controversial Choice
In Tsipras's version, Tsipras chose that maverick economist Varoufakis to be his finance minister mainly due to the latter's global profile along with Varoufakis's highly compelling abilities when it came to public orator.
“He was, actually, more like a star and less of an economist,” stated Tsipras.
Clashing Agendas
Tsipras claims how his finance chief had a personal agenda which included promoting Varoufakis's books and experimenting with his game theories on Greece instead of genuinely fighting for its economic stability.
He wrote how the discussions to avoid insolvency became “not just a way to secure improved terms for the country. They became an experiment, an historic opportunity to demonstrate the truth of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line was both the country's future but also those punishing austerity policies required in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent appeal to the Kremlin to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have told his Greek counterpart in Moscow.
Public Vote and Reversal
That summer, the punitive bailout terms were subjected to a public vote, a move which threw the EU into deeper existential crisis.
Even though the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option to ignore the result and agree to a rescue deal with foreign lenders which turned out to be more severe.
Final Straw
Tsipras claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the public image of negotiation, the man who attracted media attention, who graced the covers of publications globally … he gave the impression he relished his new role.”
When Varoufakis proposed a contingency plan that included establishing a parallel currency and distributing vouchers to pensioners, Tsipras said he realised it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the memoir, Tsipras concludes how his former ally demonstrated himself to be “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's confrontational approach left him increasingly isolated among peers, endangered the country, while helped hawks who were pushing for Grexit.
The account of history has been met with fury and stunned disbelief among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
