Within his newly released autobiography, named Ithaki, the former prime minister Tsipras pulls no punches while he revisits the turbulent period of Greece's financial crisis.
An Unconventional Choice
In Tsipras's version, he selected the unorthodox economist Varoufakis as his treasury head largely because of the latter's worldwide fame along with his “extremely attractive” abilities as a communicator.
“He was, in reality, more of a celebrity and less of an economist,” wrote the 51-year-old.
Conflicting Priorities
The former leader alleges that his finance chief possessed a personal agenda that involved promoting his books and experimenting with his own economic models on Greece rather than genuinely advocating the country's economic stability.
He explained how the negotiations to avoid insolvency were “not only a way of achieving improved terms for the country. They were a test, an historic opportunity to demonstrate the validity of Varoufakis's ideas.”
Critical Negotiations
Amid volatile negotiations, the country came perilously on the brink of exiting the eurozone.
On the line was not only the country's destiny but also those harsh austerity policies required in return for rescue loans by foreign lenders.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as an urgent plea to the Kremlin to purchase Greek government bonds, fell on stony ground.
Assisting Greece would be equivalent to throwing money into the garbage, Putin reportedly informed Tsipras in Moscow.
Public Vote Followed by U-Turn
In July 2015, those punitive conditions were subjected to a public vote, an action that plunged the EU into further crisis of identity.
Although the vote was carried resoundingly by voters against the cuts, Tsipras had little option to reject its outcome and agree to a rescue deal with creditors which proved to be even harsher.
Breaking Point
The ex-PM claimed that he began to doubt Varoufakis relatively soon.
“He was the face of the talks, the man who drew publicity, who graced the covers of publications globally … he gave the impression he was enjoying his new role.”
When Varoufakis outlined a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, Tsipras said he realised that it was the end and asked him: “Are you serious?”
Lasting Criticism
Within the book, the author concludes how Varoufakis demonstrated himself to be “unfit for an agreement that required intricate and sensitive handling.”
Tsipras further claimed how his confrontational approach made him more and more alone with colleagues, put Greece at risk, and helped hawks that were pushing for a Greek exit from the euro.
The retelling of history has provoked fury and shock in some quarters, while the former minister has kept a deafening silence regarding these claims.
