Within his newly released autobiography, named Ithaki, the former prime minister Tsipras does not hold back as he reflects on that turbulent period during Greece's debt drama.
A Controversial Choice
As per Tsipras's version, Tsipras chose the maverick economist Varoufakis as the finance minister mainly because of his worldwide fame and Varoufakis's “extremely attractive” skills when it came to public orator.
“He was, actually, more of a celebrity and less of an economist,” wrote Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal agenda which involved advancing his books as well as testing out his own game theories on the nation instead of genuinely fighting for its economic stability.
Tsipras wrote that those talks to prevent bankruptcy became “not just a way of achieving a better deal for Greece. They were a test, a monumental chance to demonstrate the validity of Varoufakis's economic theories.”
High-Stakes Negotiations
Amid rollercoaster negotiations, Greece came perilously on the brink of leaving the single currency area.
At stake was both the country's destiny and the punishing austerity measures demanded in exchange for rescue loans from foreign lenders.
Failed Options
Efforts to find financing elsewhere, including a desperate appeal to the Kremlin to purchase Greek government bonds, went unanswered.
Helping Greece was equivalent to tossing cash into the garbage, the Russian leader reportedly informed his Greek counterpart during their meeting.
Public Vote Followed by Reversal
In July 2015, those harsh conditions were put to a public vote, an action that plunged the EU into further existential crisis.
Although the referendum was carried decisively by those who opposed the cuts, the prime minister was forced to ignore the result then agree to a rescue deal from creditors which proved to be tougher.
Breaking Point
Tsipras claimed that he began to doubt Varoufakis quite early on.
“Varoufakis was the public image of the talks, the man who attracted media attention, who appeared on the covers of publications globally … he gave the impression he was enjoying his new role.”
After the minister proposed a backup strategy that included establishing a secondary currency and issuing vouchers to pensioners, the leader knew that it was game over and asked him: “Are you serious?”
Lasting Rebuke
In the book, the author concludes how his former ally had proved himself “unsuitable for an agreement demanding complex and delicate handling.”
Tsipras also claimed how Varoufakis's aggressive style left him more and more alone among peers, put Greece at risk, and assisted hardliners that were advocating Grexit.
This account of history has provoked anger along with shock among certain groups, while the former minister has kept a deafening silence regarding these claims.
