In a newly released autobiography, called Ithaki, the ex- leader Tsipras pulls no punches as he revisits the turbulent period of Greece's debt drama.
A Controversial Choice
According to the ex-PM's recollections, he selected that unorthodox economist Varoufakis to be the treasury head largely due to his global profile and his very persuasive abilities when it came to communicator.
“He was, in reality, more of a star rather than an economist,” recalled the 51-year-old.
Clashing Agendas
Tsipras alleges how Varoufakis had his own agenda that included promoting his books as well as experimenting with his economic models on the nation instead of genuinely advocating its financial survival.
He wrote how the discussions to stave off insolvency were “not just a method to secure a better deal for the country. They became an experiment, an historic chance to prove the validity of his ideas.”
Critical Negotiations
Amid tense discussions, the country found itself perilously on the brink of exiting the single currency area.
At stake lay not only Greece's destiny and those severe cutbacks required in return for financial aid from foreign lenders.
Failed Options
Efforts to secure financing elsewhere, such as a desperate plea to the Kremlin to buy Greek bonds, fell on stony ground.
Assisting the indebted country was tantamount to throwing money in the trash-can, Putin is reputed to have informed Tsipras during their meeting.
Public Vote and U-Turn
That summer, the harsh bailout terms were subjected to a popular referendum, an action which threw Europe into deeper existential crisis.
Although the vote was won resoundingly by voters who opposed the cuts, Tsipras was forced but to ignore the result then negotiate a bailout package from creditors which turned out to be even harsher.
Final Straw
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the public image of the talks, the figure who attracted media attention, who graced the front pages of publications the world over … it seemed he was enjoying the spotlight.”
After the minister outlined a contingency plan that included establishing a parallel currency and issuing vouchers to retirees, Tsipras knew it was the end and asked him: “Is this for real?”
Lasting Criticism
Within the memoir, Tsipras asserts how his former ally demonstrated himself “unfit for an agreement demanding intricate and delicate handling.”
Tsipras further claimed how Varoufakis's aggressive style made him more and more alone with colleagues, put Greece at risk, and helped hardliners who were pushing for Grexit.
This account of events has provoked fury along with stunned disbelief in some quarters, whereas Varoufakis has so far kept a deafening silence on the matter.
