In a freshly published memoir, called Ithaki, the ex- leader Tsipras does not hold back while he reflects on the turbulent era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's version, Tsipras chose that unorthodox academic Varoufakis to be the treasury head mainly because of the latter's worldwide fame and Varoufakis's very persuasive abilities when it came to communicator.
“In reality, he was, in reality, more like a star rather than an economist,” wrote Tsipras.
Clashing Priorities
Tsipras claims how Varoufakis had a personal agenda which involved promoting his books and experimenting with his own game theories using the nation rather than genuinely advocating its economic stability.
He wrote how those negotiations to avoid insolvency became “not just a way of achieving improved terms for the country. They were an experiment, an historic chance to demonstrate the truth of Varoufakis's theories.”
High-Stakes Negotiations
Amid rollercoaster discussions, the country came perilously on the brink of exiting the eurozone.
At stake lay both the country's destiny but also the harsh austerity policies demanded in exchange for rescue loans from international creditors.
Unsuccessful Alternatives
Efforts to secure financing from other sources, such as an urgent appeal to Russia to purchase Greek bonds, went unanswered.
Helping the indebted country would be equivalent to throwing money into the garbage, Putin reportedly told his Greek counterpart during their meeting.
Referendum Followed by U-Turn
In July 2015, the harsh conditions were put to a public vote, an action that plunged Europe into a further crisis of identity.
Although the referendum was carried decisively by voters against austerity, the prime minister was forced but to ignore the result and agree to a rescue deal with creditors which turned out to be tougher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister relatively soon.
“He was the public image of negotiation, the man who attracted publicity, who graced the covers of magazines globally … he gave the impression he was enjoying the spotlight.”
When Varoufakis outlined a contingency plan involving creating a parallel currency as well as distributing vouchers to pensioners, Tsipras said he realised that it was game over and asked Varoufakis: “Is this for real?”
Lasting Criticism
In the book, the author concludes that his former ally had proved himself “unsuitable for an agreement demanding intricate and sensitive handling.”
Tsipras further wrote how Varoufakis's aggressive approach left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
This retelling of events has been met with anger along with stunned disbelief among certain groups, while the former minister has so far maintained a deafening silence on the matter.
