Within his newly released autobiography, named Ithaki, the ex- leader Tsipras pulls no punches while he reflects on the chaotic period of Greece's financial crisis.
A Controversial Appointment
According to the ex-PM's version, Tsipras selected that unorthodox academic Varoufakis to be the treasury head mainly because of the latter's global profile along with his “extremely attractive” skills when it came to communicator.
“He was, in reality, more like a star and less of an economic expert,” stated the 51-year-old.
Conflicting Agendas
The former leader alleges that his finance chief possessed a personal agenda that involved promoting his books as well as testing out his game theories on Greece rather than genuinely advocating its financial survival.
Tsipras noted how the talks to stave off bankruptcy became “not only a way to secure improved terms for the country. They were an experiment, a monumental opportunity to prove the validity of Varoufakis's ideas.”
Critical Negotiations
During tense negotiations, Greece found itself dangerously close to leaving the single currency area.
At stake lay not only the country's destiny but also those harsh austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to secure financing from other sources, such as a desperate appeal to the Kremlin to buy Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
That summer, the punitive conditions were subjected to a public vote, an action which plunged the EU into a deeper existential crisis.
Even though the vote was carried resoundingly by voters against the cuts, Tsipras had little option to ignore the result then agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
Tsipras claimed how he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who drew publicity, who appeared on the front pages of magazines the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a backup strategy that included creating a parallel currency and distributing vouchers to pensioners, the leader said he realised it was game over and asked Varoufakis: “Can you be serious?”
Enduring Criticism
In the book, the author asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and sensitive management.”
He further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, while helped hardliners who were pushing for Grexit.
The retelling of history has provoked fury and shock in some quarters, whereas the former minister has kept a conspicuous quiet on the matter.
