Within his newly released autobiography, called Ithaki, the ex- leader Tsipras spares no criticism while he revisits that chaotic era of Greece's economic turmoil.
An Unconventional Choice
According to Tsipras's recollections, Tsipras chose the maverick economist Varoufakis to be the treasury head primarily due to the latter's global profile along with Varoufakis's “extremely attractive” abilities as a communicator.
“In reality, he was, actually, more of a celebrity and less of an economic expert,” wrote the 51-year-old.
Conflicting Priorities
Tsipras alleges that his finance chief possessed his own agenda which involved promoting his books and experimenting with his own game theories using the nation rather than truly advocating the country's economic stability.
Tsipras explained how those discussions to stave off bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, a monumental opportunity to demonstrate the validity of his economic theories.”
Critical Negotiations
Amid volatile negotiations, Greece found itself perilously on the brink of leaving the single currency area.
At stake lay not only the country's future but also those harsh austerity measures demanded in return for bailout funds from international creditors.
Failed Options
Efforts to secure financing elsewhere, such as an urgent appeal to the Kremlin to buy Greek bonds, went unanswered.
Assisting the indebted country was tantamount to tossing cash into the garbage, Putin is reputed to have informed his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, those harsh conditions were put to a public vote, a move that plunged the EU into deeper existential crisis.
Although the referendum was won decisively by those who opposed the cuts, the prime minister had little option but to reject its outcome and negotiate a rescue deal from foreign lenders that turned out to be even harsher.
Final Straw
The ex-PM revealed that he started questioning Varoufakis quite early on.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications the world over … he gave the impression he was enjoying the spotlight.”
When Varoufakis proposed a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras said he realised it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
Within the memoir, Tsipras asserts that Varoufakis had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further claimed that his aggressive style made him increasingly isolated among peers, endangered the country, while helped hawks that were advocating a Greek exit from the euro.
This retelling of history has been met with anger along with shock among certain groups, whereas Varoufakis has so far kept a conspicuous quiet regarding these claims.
