In a newly released autobiography, called Ithaki, the ex- premier Tsipras pulls no punches while he revisits that turbulent era during Greece's financial crisis.
An Unconventional Appointment
According to the ex-PM's version, he chose that maverick academic Varoufakis as the finance minister primarily due to the latter's international reputation and his “extremely attractive” abilities as a public orator.
“In reality, he was, truthfully, more like a personality rather than an economist,” recalled Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief had a personal motives that included advancing Varoufakis's books as well as experimenting with his game theories on Greece instead of genuinely advocating the country's financial survival.
He noted that those discussions to prevent bankruptcy became “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the truth of his ideas.”
Critical Negotiations
Amid volatile discussions, Greece found itself perilously close to exiting the single currency area.
On the line lay both Greece's destiny but also those severe austerity policies demanded in return for bailout funds by international creditors.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Assisting the indebted country would be equivalent to tossing cash into the garbage, Putin reportedly told Tsipras in Moscow.
Referendum and Reversal
That summer, the punitive conditions were subjected to a public vote, a move which plunged the EU into a further crisis of identity.
Even though the referendum was won resoundingly by those against the cuts, Tsipras was forced to ignore the result then negotiate a bailout package from foreign lenders that proved to be more severe.
Breaking Point
The ex-PM claimed that he started questioning his finance minister relatively soon.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the covers of publications the world over … he gave the impression he relished the spotlight.”
When the minister proposed a contingency plan that included establishing a parallel currency and distributing coupons to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, the author concludes how his former ally had proved himself “unfit for a deal that required intricate and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive approach left him increasingly isolated among peers, endangered the country, while assisted hardliners that were advocating Grexit.
This retelling of events has provoked anger along with shock among certain groups, whereas the former minister has maintained a conspicuous quiet regarding these claims.
