Within his newly released autobiography, called Ithaki, the former prime minister Tsipras pulls no punches as he examines the turbulent era of Greece's debt drama.
An Unconventional Choice
According to the ex-PM's version, Tsipras appointed that maverick economist Varoufakis to be the treasury head primarily due to his international reputation and his highly compelling abilities as a speaker.
“In reality, he was, actually, more of a star rather than an economist,” stated the 51-year-old.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own motives which included promoting Varoufakis's publications and experimenting with his own game theories using the nation instead of truly fighting for its financial survival.
Tsipras explained how those negotiations to prevent insolvency became “not only a method to secure improved terms for the country. They were a test, a monumental chance to demonstrate the truth of his economic theories.”
High-Stakes Talks
During tense negotiations, Greece came perilously on the brink of leaving the single currency area.
On the line was both the country's destiny but also the harsh cutbacks demanded in return for financial aid by foreign lenders.
Unsuccessful Alternatives
Attempts to find financing elsewhere, including an urgent appeal to Russia to buy Greek bonds, fell on stony ground.
Helping Greece would be equivalent to throwing money in the trash-can, the Russian leader is reputed to have informed his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, those punitive conditions were put to a public vote, a move which plunged the EU into a deeper crisis of identity.
Even though the referendum was carried decisively by those against austerity, Tsipras had little option but to reject its outcome then agree to a bailout package from creditors that proved to be even harsher.
Final Straw
The ex-PM claimed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the man who attracted publicity, who graced the front pages of publications globally … he gave the impression he was enjoying his new role.”
After Varoufakis outlined a backup strategy involving establishing a secondary currency and issuing coupons to retirees, Tsipras knew it was game over questioning Varoufakis: “Is this for real?”
Lasting Criticism
Within the book, Tsipras asserts that his former ally demonstrated himself to be “unfit for an agreement that required intricate and delicate handling.”
Tsipras also claimed that Varoufakis's aggressive style made him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were pushing for a Greek exit from the euro.
This account of events has provoked fury and shock in some quarters, whereas the former minister has so far kept a deafening silence regarding these claims.
