Within his freshly published memoir, titled Ithaki, the former prime minister Tsipras pulls no punches while he revisits that chaotic era during Greece's financial crisis.
An Unconventional Appointment
According to Tsipras's version, he chose that unorthodox economist Varoufakis as the finance minister mainly because of his global profile and his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more like a celebrity and less of an economist,” stated the 51-year-old.
Clashing Priorities
The former leader alleges that Varoufakis possessed his own motives that involved promoting Varoufakis's books and experimenting with his economic models using the nation rather than genuinely fighting for the country's economic stability.
Tsipras wrote how those talks to avoid bankruptcy were “not just a method to secure a better deal for Greece. They became an experiment, a monumental opportunity to prove the truth of his economic theories.”
High-Stakes Negotiations
Amid tense discussions, Greece came dangerously on the brink of leaving the single currency area.
At stake was both Greece's destiny but also those harsh austerity measures required in return for bailout funds from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, including a desperate plea to Russia to buy Greek government bonds, were rejected.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote Followed by Reversal
In July 2015, the harsh conditions were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister was forced but to ignore the result and agree to a rescue deal from foreign lenders that proved to be even harsher.
Final Straw
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew media attention, who appeared on the front pages of magazines the world over … it seemed he was enjoying his new role.”
When Varoufakis outlined a backup strategy involving creating a secondary currency and distributing coupons to retirees, the leader said he realised it was game over questioning Varoufakis: “Are you serious?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and delicate management.”
He also claimed that Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, while assisted hawks who were pushing for Grexit.
The retelling of history has provoked anger along with stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet on the matter.
