In a newly released autobiography, called Ithaki, the former leader Tsipras does not hold back as he revisits the chaotic era during Greece's economic turmoil.
A Controversial Appointment
As per Tsipras's version, Tsipras selected the maverick academic Varoufakis as his finance minister mainly due to the latter's international reputation and his “extremely attractive” skills when it came to speaker.
“In reality, he was, in reality, more like a star and less of an economic expert,” stated Tsipras.
Conflicting Priorities
Tsipras alleges how his finance chief possessed a personal agenda which involved advancing his publications and testing out his economic models using Greece rather than genuinely fighting for its financial survival.
He explained how the talks to avoid bankruptcy became “not only a way to secure improved terms for Greece. They became a test, a monumental chance to demonstrate the validity of his theories.”
High-Stakes Talks
During rollercoaster negotiations, the country found itself dangerously on the brink of leaving the eurozone.
At stake was both Greece's future but also those punishing cutbacks demanded in exchange for financial aid by foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to Russia to purchase Greek bonds, fell on stony ground.
Helping Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told his Greek counterpart during their meeting.
Referendum and U-Turn
That summer, those excoriating conditions were subjected to a popular referendum, a move that plunged Europe into further existential crisis.
Even though the referendum was carried resoundingly by those against austerity, Tsipras was forced to ignore the result then agree to a bailout package with creditors that turned out to be more severe.
Breaking Point
Tsipras claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who graced the covers of magazines the world over … he gave the impression he was enjoying the spotlight.”
When the minister outlined a contingency plan involving creating a secondary currency and issuing vouchers to pensioners, Tsipras knew it was the end questioning Varoufakis: “Are you serious?”
Lasting Criticism
In the memoir, the author asserts how Varoufakis demonstrated himself “unsuitable for a deal that required intricate and delicate handling.”
He further wrote how Varoufakis's confrontational approach left him more and more alone among peers, endangered the country, while helped hardliners that were pushing for a Greek exit from the euro.
This retelling of history has been met with anger and shock in some quarters, while the former minister has so far maintained a deafening silence on the matter.
