Within his freshly published memoir, called Ithaki, the ex- premier Tsipras pulls no punches as he revisits the turbulent era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's version, Tsipras selected the maverick economist Varoufakis to be the treasury head largely due to his worldwide fame and his “extremely attractive” skills when it came to public orator.
“In reality, he was, actually, more like a star and less of an economist,” wrote the 51-year-old.
Clashing Priorities
The former leader claims that his finance chief possessed his own motives that included advancing Varoufakis's books and testing out his economic models using the nation instead of genuinely fighting for the country's economic stability.
He noted how those discussions to prevent insolvency were “not only a method to secure a better deal for the country. They became an experiment, a monumental opportunity to prove the truth of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece found itself dangerously on the brink of exiting the eurozone.
At stake was both the country's destiny but also the severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Options
Efforts to secure financing elsewhere, including a desperate plea to Russia to purchase Greek bonds, went unanswered.
Assisting Greece would be equivalent to tossing cash into the garbage, Putin is reputed to have told Tsipras during their meeting.
Referendum Followed by Reversal
In July 2015, those punitive bailout terms were put to a popular referendum, an action which threw Europe into a deeper crisis of identity.
Even though the vote was won resoundingly by voters against the cuts, Tsipras was forced to ignore the result then negotiate a rescue deal from creditors which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis quite early on.
“He was the face of the talks, the man who attracted publicity, who graced the front pages of magazines globally … he gave the impression he was enjoying his new role.”
After the minister outlined a backup strategy that included establishing a parallel currency and issuing vouchers to retirees, Tsipras said he realised that it was game over questioning Varoufakis: “Can you be serious?”
Lasting Rebuke
In the memoir, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras also wrote that his confrontational style made him more and more alone among peers, endangered the country, and assisted hardliners that were pushing for Grexit.
This retelling of history has been met with anger along with shock in some quarters, whereas Varoufakis has so far maintained a deafening silence on the matter.
