In a newly released memoir, called Ithaki, the ex- prime minister Tsipras pulls no punches while he revisits that chaotic period during Greece's debt drama.
A Controversial Choice
According to Tsipras's version, he appointed that maverick academic Varoufakis to be his treasury head largely because of his global profile and his very persuasive abilities as a public orator.
“In reality, he was, actually, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Agendas
The former leader suggests that Varoufakis possessed his own motives which involved advancing his publications as well as experimenting with his game theories on Greece rather than genuinely advocating the country's economic stability.
He noted that the discussions to prevent bankruptcy became “not just a method of achieving improved terms for the country. They became an experiment, a monumental chance to prove the validity of his ideas.”
Critical Talks
During volatile discussions, Greece came perilously close to leaving the single currency area.
At stake was not only the country's future but also the punishing cutbacks demanded in return for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find funds elsewhere, including an urgent appeal to the Kremlin to purchase Greek bonds, fell on stony ground.
Assisting Greece was 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 put to a public vote, an action that threw the EU into further crisis of identity.
Although the referendum was carried resoundingly by voters who opposed austerity, Tsipras had little option but to reject its outcome and negotiate a bailout package from creditors that proved to be more severe.
Final Straw
Tsipras claimed how he began to doubt Varoufakis relatively soon.
“Varoufakis was the face of the talks, the figure who attracted media attention, who appeared on the front pages of publications the world over … it seemed he relished the spotlight.”
After Varoufakis outlined a backup strategy that included establishing a secondary currency as well as distributing coupons to pensioners, the leader knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
In the memoir, Tsipras asserts that Varoufakis had proved himself “unfit for an agreement that required intricate and sensitive handling.”
He further wrote that his confrontational style made him more and more alone with colleagues, put Greece at risk, and assisted hardliners that were advocating Grexit.
The retelling of events has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.