Within his newly released autobiography, titled Ithaki, the former leader Tsipras does not hold back as he reflects on the turbulent period during Greece's debt drama.
An Unconventional Appointment
As per Tsipras's version, Tsipras appointed that maverick academic Varoufakis to be his treasury head primarily because of his international reputation along with Varoufakis's “extremely attractive” abilities as a speaker.
“In reality, he was, truthfully, more like a personality rather than an economist,” wrote the 51-year-old.
Clashing Agendas
The former leader suggests how Varoufakis had a personal agenda which involved advancing Varoufakis's publications as well as testing out his theories using Greece rather than truly advocating the country's economic stability.
Tsipras explained that the negotiations to avoid insolvency were “not only a method to secure a better deal for the country. They were a test, an historic opportunity to demonstrate the validity of his economic theories.”
Critical Talks
Amid volatile negotiations, Greece found itself perilously close to exiting the single currency area.
At stake lay not only the country's future and those harsh austerity policies required in return for financial aid from international creditors.
Unsuccessful Alternatives
Attempts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, went unanswered.
Helping Greece was equivalent to tossing cash in the trash-can, Putin reportedly informed his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the excoriating conditions were put to a popular referendum, a move that plunged the EU into deeper existential crisis.
Even though the referendum was carried resoundingly by voters against austerity, the prime minister had little option to ignore the result and agree to a rescue deal from foreign lenders which proved to be more severe.
Breaking Point
The ex-PM claimed that he began to doubt his finance minister relatively soon.
“Varoufakis was the face of the talks, the man who attracted publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy that included creating a parallel currency as well as distributing coupons to retirees, Tsipras knew it was the end questioning him: “Can you be serious?”
Enduring Criticism
Within the memoir, Tsipras asserts how Varoufakis demonstrated himself to be “unfit for an agreement that required complex and sensitive management.”
Tsipras also claimed how his aggressive style made him more and more alone with colleagues, endangered the country, and assisted hawks who were advocating a Greek exit from the euro.
The retelling of events has provoked anger and shock in some quarters, while Varoufakis has so far maintained a deafening silence on the matter.
