In a freshly published autobiography, titled Ithaki, the former leader Tsipras pulls no punches as he revisits the turbulent period of Greece's debt drama.
An Unconventional Choice
As per Tsipras's recollections, Tsipras chose that unorthodox economist Varoufakis to be his finance minister mainly due to his international reputation and Varoufakis's highly compelling abilities as a speaker.
“He was, actually, more of a star and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that Varoufakis had a personal agenda which involved promoting Varoufakis's publications and testing out his own theories on the nation rather than truly fighting for its economic stability.
Tsipras noted that those talks to avoid insolvency became “not just a way to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid volatile discussions, Greece found itself perilously close to leaving the eurozone.
At stake lay not only the country's destiny but also the severe cutbacks demanded in exchange for bailout funds by international creditors.
Unsuccessful Options
Attempts to find financing elsewhere, such as a desperate plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly told Tsipras during their meeting.
Public Vote and Reversal
That summer, the excoriating conditions were subjected to a public vote, an action that plunged Europe into a deeper existential crisis.
Although the referendum was carried resoundingly by voters who opposed austerity, the prime minister had little option but to reject its outcome and negotiate a bailout package with foreign lenders that proved to be more severe.
Final Straw
Tsipras revealed how he started questioning his finance minister quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines globally … it seemed he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a secondary currency and issuing vouchers to retirees, Tsipras said he realised that it was the end questioning him: “Are you serious?”
Lasting Rebuke
Within the book, Tsipras asserts how his former ally had proved himself “unfit for a deal that required complex and sensitive management.”
Tsipras also claimed how Varoufakis's confrontational approach left him more and more alone with colleagues, put Greece at risk, and helped hardliners that were pushing for Grexit.
This retelling of events has been met with anger and stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence regarding these claims.
