In a newly released autobiography, named Ithaki, the former leader Tsipras does not hold back while he examines that chaotic period of Greece's economic turmoil.
An Unconventional Appointment
According to the ex-PM's account, he appointed the unorthodox academic Varoufakis as the finance minister largely because of the latter's global profile along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“He was, in reality, more like a celebrity and less of an economic expert,” stated Tsipras.
Conflicting Agendas
The former leader suggests how his finance chief possessed his own agenda which included promoting Varoufakis's publications as well as experimenting with his theories using Greece rather than truly fighting for the country's economic stability.
Tsipras explained how the discussions to avoid insolvency were “not just a method of achieving improved terms for Greece. They became a test, a monumental chance to prove the truth of Varoufakis's theories.”
Critical Negotiations
During volatile discussions, the country found itself perilously close to exiting the single currency area.
At stake was both Greece's future but also the punishing austerity measures required in return for bailout funds from foreign lenders.
Failed Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to purchase Greek government bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart in Moscow.
Referendum and U-Turn
In July 2015, the punitive conditions were put to a popular referendum, an action which plunged Europe into a deeper existential crisis.
Even though the referendum was won decisively by voters who opposed austerity, Tsipras had little option to reject its outcome and negotiate a rescue deal with creditors that proved to be tougher.
Breaking Point
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of the talks, the man who drew media attention, who graced the covers of publications globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving establishing a secondary currency and distributing vouchers to retirees, Tsipras knew that it was the end questioning him: “Are you serious?”
Lasting Criticism
Within the memoir, Tsipras asserts that his former ally had proved himself to be “unfit for a deal that required intricate and sensitive handling.”
Tsipras also wrote how Varoufakis's aggressive style made him increasingly isolated among peers, endangered the country, while helped hardliners who were pushing for Grexit.
This retelling of history has provoked anger along with stunned disbelief in some quarters, whereas Varoufakis has kept a deafening silence regarding these claims.
