In a freshly published autobiography, titled Ithaki, the former leader Tsipras does not hold back while he examines the chaotic period during Greece's financial crisis.
A Controversial Choice
As per Tsipras's version, he selected that unorthodox academic Varoufakis as his treasury head mainly due to the latter's global profile and Varoufakis's very persuasive skills as a public orator.
“In reality, he was, actually, more of a celebrity rather than an economist,” wrote Tsipras.
Conflicting Priorities
The former leader suggests how his finance chief possessed his own agenda which included advancing his publications as well as testing out his theories using Greece rather than genuinely fighting for its economic stability.
Tsipras explained how the discussions to avoid insolvency were “not only a way to secure a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Negotiations
During tense discussions, Greece came dangerously on the brink of exiting the eurozone.
On the line lay not only Greece's future but also those harsh austerity measures demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Efforts to secure financing from other sources, including a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country would be tantamount to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Public Vote and U-Turn
That summer, those punitive conditions were put to a public vote, an action that threw the EU into a further crisis of identity.
Although the vote was won decisively by voters against the cuts, Tsipras had little option but to reject its outcome and agree to a bailout package with foreign lenders which proved to be even harsher.
Breaking Point
Tsipras claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the figure who attracted publicity, who graced the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing coupons to retirees, Tsipras said he realised it was game over and asked him: “Is this for real?”
Enduring Criticism
Within the memoir, the author asserts that his former ally had proved himself to be “unsuitable for an agreement demanding complex and sensitive management.”
Tsipras further claimed how Varoufakis's confrontational style made him increasingly isolated with colleagues, put Greece at risk, while assisted hawks who were pushing for a Greek exit from the euro.
This retelling of history has been met with fury and stunned disbelief in some quarters, while the former minister has maintained a conspicuous quiet regarding these claims.
