In a freshly published personal account, called Ithaki, the ex- premier Tsipras spares no criticism while he reflects on that turbulent era of Greece's debt drama.
An Unconventional Appointment
In Tsipras's account, he selected that maverick economist Varoufakis to be his treasury head largely due to the latter's international reputation along with his “extremely attractive” skills as a communicator.
“He was, in reality, more like a personality rather than an economist,” stated the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis possessed a personal agenda which included promoting his books as well as experimenting with his game theories using the nation instead of genuinely fighting for its economic stability.
He wrote how those discussions to avoid insolvency became “not only a method to secure improved terms for the country. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's ideas.”
Critical Negotiations
Amid tense negotiations, the country came perilously close to exiting the eurozone.
On the line lay not only Greece's destiny and the severe austerity measures required in return for financial aid from international creditors.
Failed Options
Attempts to secure funds elsewhere, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country was equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive bailout terms were subjected to a public vote, an action that plunged Europe into deeper crisis of identity.
Although the vote was won decisively by those against the cuts, the prime minister was forced but to ignore the result then agree to a rescue deal with foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of magazines the world over … he gave the impression he relished his new role.”
After Varoufakis proposed a backup strategy involving establishing a secondary currency as well as issuing coupons to retirees, the leader knew it was game over and asked Varoufakis: “Is this for real?”
Enduring Rebuke
In the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for an agreement demanding intricate and delicate handling.”
Tsipras also wrote that his confrontational approach made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating a Greek exit from the euro.
The account of history has provoked anger and shock in some quarters, while Varoufakis has kept a deafening silence on the matter.
