Within his newly released autobiography, titled Ithaki, the former premier Tsipras spares no criticism as he examines the turbulent era during Greece's debt drama.
A Controversial Appointment
As per the ex-PM's account, Tsipras selected that maverick academic Varoufakis as his treasury head largely because of his international reputation and his highly compelling abilities as a speaker.
“In reality, he was, truthfully, more like a star rather than an economic expert,” recalled the 51-year-old.
Conflicting Priorities
The former leader suggests that Varoufakis possessed a personal motives which included advancing his publications and testing out his own game theories on the nation rather than truly advocating the country's economic stability.
He noted that the negotiations to prevent insolvency became “not just a way of achieving improved terms for the country. They became a test, an historic opportunity to demonstrate the validity of Varoufakis's theories.”
High-Stakes Talks
Amid volatile negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny but also those severe cutbacks required in return for rescue loans by international creditors.
Unsuccessful Options
Attempts to secure funds elsewhere, such as a desperate appeal to the Kremlin to purchase Greek government bonds, were rejected.
Helping the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a popular referendum, an action which threw the EU into further crisis of identity.
Although the vote was won decisively by voters who opposed the cuts, the prime minister had little option to reject its outcome then negotiate a rescue deal from foreign lenders that turned out to be tougher.
Breaking Point
The ex-PM claimed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines globally … he gave the impression he was enjoying the spotlight.”
After Varoufakis outlined a contingency plan that included establishing a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked him: “Can you be serious?”
Lasting Rebuke
In the memoir, Tsipras concludes that his former ally had proved himself “unfit for an agreement that required intricate and delicate handling.”
He also wrote how Varoufakis's confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hawks that were advocating Grexit.
This account of history has been met with anger and shock in some quarters, whereas the former minister has kept a deafening silence on the matter.
