In a recently unveiled personal account, called Ithaki, the former premier Tsipras spares no criticism as he revisits that turbulent period during Greece's economic turmoil.
An Unconventional Appointment
As per the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis to be the treasury head largely because of his global profile and his highly compelling skills when it came to public orator.
“In reality, he was, truthfully, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests that Varoufakis possessed a personal agenda which included promoting his books as well as testing out his own theories using the nation instead of genuinely advocating its financial survival.
Tsipras explained that the negotiations to avoid insolvency were “not only a way of achieving a better deal for the country. They became an experiment, an historic opportunity to demonstrate the validity of Varoufakis's economic theories.”
Critical Talks
During rollercoaster negotiations, the country came perilously close to exiting the single currency area.
At stake lay not only Greece's future and the harsh austerity policies demanded in return for rescue loans by international creditors.
Unsuccessful Alternatives
Attempts to find funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Referendum Followed by Reversal
In July 2015, the excoriating conditions were put to a popular referendum, a move which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by those against austerity, the prime minister was forced to reject its outcome and agree to a rescue deal from foreign lenders which proved to be tougher.
Breaking Point
Tsipras claimed that he started questioning Varoufakis relatively soon.
“He was the public image of negotiation, the man who drew media attention, who appeared on the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included creating a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Enduring Criticism
Within the book, the author asserts that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote how his aggressive style made him more and more alone with colleagues, put Greece at risk, and assisted hawks that were pushing for a Greek exit from the euro.
This account of events has been met with anger along with shock in some quarters, whereas the former minister has so far kept a conspicuous quiet on the matter.
