In a newly released autobiography, titled Ithaki, the former leader Tsipras spares no criticism as he reflects on that turbulent era during Greece's economic turmoil.
An Unconventional Appointment
In the ex-PM's version, he appointed the unorthodox academic Yanis Varoufakis as the treasury head largely because of the latter's international reputation and Varoufakis's very persuasive skills when it came to speaker.
“In reality, he was, in reality, more of a personality rather than an economist,” recalled the 51-year-old.
Conflicting Agendas
The former leader alleges that Varoufakis had his own motives which involved promoting Varoufakis's books and testing out his economic models on Greece rather than truly fighting for its financial survival.
Tsipras explained how the negotiations to prevent insolvency became “not just a way of achieving improved terms for Greece. They were a test, an historic opportunity to demonstrate the truth of Varoufakis's theories.”
High-Stakes Talks
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
At stake lay both the country's destiny but also the severe cutbacks demanded in exchange for financial aid by international creditors.
Unsuccessful Options
Attempts to find financing from other sources, such as a desperate appeal to Russia to buy Greek government bonds, fell on stony ground.
Helping the indebted country would be equivalent to tossing cash in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, the punitive conditions were put to a popular referendum, an action that plunged the EU into further crisis of identity.
Even though the referendum was won resoundingly by those who opposed the cuts, the prime minister was forced but to reject its outcome then negotiate a rescue deal with foreign lenders that turned out to be even harsher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the covers of publications globally … it seemed he was enjoying his new role.”
After the minister proposed a contingency plan that included establishing a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked him: “Is this for real?”
Enduring Rebuke
Within the book, Tsipras asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive handling.”
Tsipras further wrote how Varoufakis's confrontational approach made him more and more alone among peers, put Greece at risk, while assisted hawks that were advocating Grexit.
The account of history has provoked anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
