In a recently unveiled autobiography, called Ithaki, the former prime minister Tsipras does not hold back as he examines the chaotic period during Greece's debt drama.
An Unconventional Appointment
In the ex-PM's recollections, he chose the maverick academic Varoufakis to be the treasury head mainly due to his international reputation and Varoufakis's “extremely attractive” abilities as a speaker.
“He was, in reality, more like a celebrity rather than an economist,” wrote the 51-year-old.
Clashing Priorities
Tsipras suggests that Varoufakis had his own motives that involved promoting Varoufakis's books and testing out his own economic models on the nation rather than truly fighting for the country's financial survival.
Tsipras explained how the discussions to prevent bankruptcy became “not just a way to secure a better deal for Greece. They were an experiment, a monumental chance to prove the validity of Varoufakis's economic theories.”
Critical Talks
Amid volatile negotiations, the country came perilously close to exiting the single currency area.
On the line lay not only Greece's destiny but also the punishing cutbacks demanded in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate plea to Russia to buy Greek government bonds, went unanswered.
Assisting Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly told his Greek counterpart during their meeting.
Public Vote Followed by U-Turn
In July 2015, the excoriating conditions were subjected to a public vote, an action that threw Europe into further crisis of identity.
Although the vote was carried decisively by those who opposed the cuts, the prime minister had little option to reject its outcome and negotiate a bailout package from foreign lenders which turned out to be more severe.
Breaking Point
Tsipras revealed that he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew media attention, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving establishing a secondary currency as well as issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Enduring Rebuke
Within the book, the author asserts that Varoufakis demonstrated himself “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote how his aggressive style made him more and more alone among peers, put Greece at risk, while helped hawks that were advocating Grexit.
The account of events has been met with anger and shock among certain groups, whereas Varoufakis has maintained a deafening silence regarding these claims.
