Within his recently unveiled personal account, titled Ithaki, the former leader Tsipras pulls no punches as he reflects on the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's account, Tsipras appointed the unorthodox academic Varoufakis to be his treasury head mainly because of the latter's international reputation and his “extremely attractive” abilities when it came to communicator.
“In reality, he was, truthfully, more of a celebrity and less of an economic expert,” wrote Tsipras.
Clashing Priorities
Tsipras suggests how his finance chief had his own agenda that included promoting Varoufakis's publications and testing out his economic models using Greece instead of truly fighting for the country's economic stability.
He noted that the talks to avoid insolvency became “not only a method of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of his theories.”
Critical Talks
Amid volatile discussions, Greece found itself dangerously on the brink of exiting the single currency area.
At stake was both Greece's future and those punishing austerity policies required in return for bailout funds by international creditors.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek government bonds, fell on stony ground.
Helping Greece would be tantamount to tossing cash in the trash-can, Putin is reputed to have informed Tsipras in Moscow.
Referendum and Reversal
In July 2015, those excoriating conditions were subjected to a popular referendum, a move which threw Europe into further existential crisis.
Even though the vote was won resoundingly by voters who opposed austerity, the prime minister had little option to ignore the result and agree to a bailout package with creditors that proved to be more severe.
Final Straw
The ex-PM claimed how he started questioning Varoufakis quite early on.
“Varoufakis was the face of negotiation, the man who attracted media attention, who graced the front pages of magazines the world over … he gave the impression he relished the spotlight.”
When the minister proposed a backup strategy involving creating a parallel currency as well as issuing coupons to retirees, Tsipras said he realised that it was game over and asked Varoufakis: “Are you serious?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself “unfit for a deal demanding intricate and delicate management.”
Tsipras also claimed that his aggressive style made him more and more alone among peers, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
The retelling of history has provoked anger and shock among certain groups, whereas the former minister has so far kept a deafening silence on the matter.
