In a recently unveiled personal account, named Ithaki, the ex- prime minister Tsipras spares no criticism while he revisits that chaotic period during Greece's debt drama.
An Unconventional Choice
In the ex-PM's recollections, he chose that unorthodox academic Varoufakis as the treasury head primarily because of the latter's global profile along with Varoufakis's highly compelling abilities as a speaker.
“In reality, he was, in reality, more like a personality rather than an economic expert,” wrote the 51-year-old.
Clashing Priorities
The former leader alleges how his finance chief had his own motives which involved advancing his books as well as experimenting with his economic models using Greece rather than genuinely fighting for the country's financial survival.
Tsipras noted that the negotiations to stave off bankruptcy were “not only a way to secure a better deal for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his ideas.”
High-Stakes Negotiations
During tense discussions, Greece came dangerously on the brink of leaving the eurozone.
At stake lay not only the country's future but also the harsh cutbacks demanded in return for rescue loans from international creditors.
Failed Options
Efforts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Helping Greece was tantamount to tossing cash in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Public Vote Followed by Reversal
In July 2015, the excoriating conditions were subjected to a public vote, a move that threw the EU into further crisis of identity.
Although the vote was won decisively by those against austerity, Tsipras was forced but to ignore the result then agree to a rescue deal with creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis relatively soon.
“He was the face of the talks, the figure who drew publicity, who appeared on the covers of magazines globally … it seemed he was enjoying his new role.”
When Varoufakis proposed a backup strategy that included creating a secondary currency and distributing vouchers to retirees, Tsipras said he realised it was the end questioning him: “Can you be serious?”
Lasting Criticism
Within the book, Tsipras concludes that his former ally had proved himself to be “unfit for a deal demanding intricate and delicate handling.”
He further claimed that Varoufakis's aggressive approach made him more and more alone among peers, endangered the country, and helped hawks who were advocating a Greek exit from the euro.
The retelling of history has provoked anger along with stunned disbelief in some quarters, while Varoufakis has so far kept a deafening silence regarding these claims.
