In a recently unveiled autobiography, titled Ithaki, the former prime minister Tsipras pulls no punches as he examines the turbulent period during Greece's financial crisis.
A Controversial Appointment
In Tsipras's version, Tsipras selected that maverick academic Varoufakis to be his treasury head primarily because of his international reputation along with his very persuasive abilities when it came to public orator.
“In reality, he was, actually, more like a star rather than an economist,” recalled Tsipras.
Conflicting Agendas
The former leader alleges how Varoufakis possessed his own agenda which included promoting Varoufakis's books and experimenting with his economic models using the nation instead of genuinely advocating the country's economic stability.
Tsipras noted how those negotiations to prevent insolvency were “not only a method to secure a better deal for Greece. They were a test, a monumental opportunity to prove the truth of Varoufakis's economic theories.”
High-Stakes Talks
During rollercoaster negotiations, Greece found itself perilously close to leaving the eurozone.
On the line lay not only Greece's destiny but also the punishing cutbacks required in exchange for bailout funds from foreign lenders.
Unsuccessful Alternatives
Efforts to secure funds elsewhere, such as a desperate appeal to Russia to buy Greek bonds, were rejected.
Assisting the indebted country would be tantamount to throwing money in the trash-can, Putin is reputed to have informed his Greek counterpart in Moscow.
Public Vote and Reversal
In July 2015, the excoriating bailout terms were put to a popular referendum, an action which threw the EU into a further crisis of identity.
Even though the referendum was carried resoundingly by voters who opposed the cuts, Tsipras was forced to reject its outcome then negotiate a rescue deal with foreign lenders which turned out to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt Varoufakis relatively soon.
“He was the public image of negotiation, the figure who drew publicity, who appeared on the covers of publications globally … he gave the impression he was enjoying the spotlight.”
After the minister outlined a contingency plan involving creating a parallel currency as well as issuing coupons to retirees, the leader knew it was game over questioning him: “Are you serious?”
Enduring Criticism
Within the book, Tsipras asserts how Varoufakis had proved himself to be “unfit for an agreement that required complex and delicate management.”
He further claimed that his confrontational style left him increasingly isolated among peers, endangered the country, while helped hardliners that were advocating Grexit.
The retelling of history has been met with anger along with stunned disbelief in some quarters, while the former minister has maintained a deafening silence on the matter.
