In a recently unveiled personal account, named Ithaki, the former leader Tsipras spares no criticism as he examines that chaotic period during Greece's debt drama.
A Controversial Appointment
In the ex-PM's recollections, he chose the maverick economist Varoufakis to be the finance minister primarily because of his global profile and his very persuasive skills as a public orator.
“He was, in reality, more like a star and less of an economist,” recalled Tsipras.
Clashing Agendas
Tsipras claims that his finance chief had a personal motives that involved promoting his books and testing out his own theories using the nation instead of truly fighting for the country's economic stability.
He wrote how those talks to avoid bankruptcy became “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
During tense negotiations, Greece came dangerously on the brink of leaving the eurozone.
At stake was both the country's destiny and those punishing austerity measures demanded in exchange for bailout funds from international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, including a desperate appeal to Russia to buy Greek bonds, fell on stony ground.
Helping the indebted country would be equivalent to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were subjected to a popular referendum, an action that threw Europe into a further crisis of identity.
Although the vote was carried resoundingly by voters who opposed austerity, Tsipras was forced but to ignore the result then agree to a bailout package with creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew media attention, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a contingency plan that included establishing a parallel currency as well as distributing vouchers to pensioners, the leader knew that it was the end and asked Varoufakis: “Can you be serious?”
Lasting Rebuke
In the book, Tsipras concludes how Varoufakis had proved himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed how Varoufakis's confrontational style made him more and more alone among peers, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This account of history has provoked fury and shock in some quarters, while the former minister has so far kept a deafening silence regarding these claims.
