Within his recently unveiled personal account, named Ithaki, the former premier Tsipras spares no criticism while he reflects on that turbulent period of Greece's economic turmoil.
A Controversial Appointment
In Tsipras's version, Tsipras chose that maverick economist Varoufakis to be his treasury head mainly because of his global profile along with his highly compelling skills as a public orator.
“He was, truthfully, more like a star and less of an economic expert,” recalled the 51-year-old.
Clashing Priorities
The former leader claims how Varoufakis possessed his own agenda that involved promoting Varoufakis's publications as well as experimenting with his game theories using the nation rather than genuinely advocating the country's financial survival.
Tsipras wrote how the discussions to prevent bankruptcy became “not only a way of achieving improved terms for the country. They became a test, a monumental chance to demonstrate the truth of his ideas.”
High-Stakes Talks
Amid rollercoaster discussions, Greece found itself perilously on the brink of leaving the eurozone.
At stake lay both the country's future but also those severe cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to secure financing from other sources, such as a desperate plea to Russia to purchase Greek government bonds, fell on stony ground.
Helping the indebted country would be tantamount to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move which threw the EU into a deeper existential crisis.
Although the vote was carried decisively by those against austerity, the prime minister had little option to reject its outcome then agree to a bailout package from creditors which proved to be more severe.
Breaking Point
Tsipras revealed how he began to doubt Varoufakis quite early on.
“He was the public image of negotiation, the figure who drew publicity, who graced the covers of magazines globally … it seemed he relished his new role.”
After Varoufakis proposed a contingency plan involving establishing a secondary currency and distributing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Enduring Rebuke
Within the book, Tsipras concludes that Varoufakis demonstrated himself “unfit for a deal that required complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach made him increasingly isolated among peers, put Greece at risk, while assisted hawks that were pushing for a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, whereas the former minister has kept a deafening silence on the matter.
