Within his newly released autobiography, called Ithaki, the former premier Tsipras does not hold back while he reflects on the chaotic period during Greece's financial crisis.
A Controversial Appointment
As per Tsipras's account, Tsipras selected that maverick academic Varoufakis as his finance minister largely because of his worldwide fame along with Varoufakis's highly compelling skills as a speaker.
“In reality, he was, in reality, more of a star rather than an economist,” stated Tsipras.
Clashing Agendas
Tsipras suggests how Varoufakis had a personal agenda that involved advancing Varoufakis's publications and testing out his game theories using Greece instead of genuinely fighting for the country's financial survival.
He explained how the negotiations to avoid insolvency were “not just a method to secure improved terms for Greece. They became an experiment, a monumental opportunity to prove the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously on the brink of exiting the single currency area.
At stake lay not only the country's future and the severe austerity measures required in return for financial aid from foreign lenders.
Unsuccessful Alternatives
Attempts to find financing from other sources, such as a desperate plea to the Kremlin to buy Greek government bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money into the garbage, Putin is reputed to have told Tsipras in Moscow.
Referendum and Reversal
In July 2015, those harsh bailout terms were put to a public vote, a move that threw the EU into deeper crisis of identity.
Even though the referendum was won resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a rescue deal from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he began to doubt Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who appeared on the front pages of magazines globally … it seemed he relished his new role.”
When the minister proposed a backup strategy that included establishing a parallel currency and issuing vouchers to pensioners, the leader said he realised that it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the book, Tsipras asserts how Varoufakis had proved himself to be “unsuitable for a deal demanding intricate and delicate handling.”
Tsipras also wrote how Varoufakis's confrontational approach made him increasingly isolated with colleagues, endangered the country, and helped hawks that were advocating Grexit.
This account of history has provoked anger and stunned disbelief among certain groups, while the former minister has so far kept a deafening silence regarding these claims.
