Within his freshly published autobiography, named Ithaki, the ex- prime minister Tsipras pulls no punches as he revisits the chaotic era of Greece's economic turmoil.
An Unconventional Choice
In Tsipras's version, he selected the maverick economist Varoufakis to be the finance minister largely due to the latter's international reputation along with Varoufakis's “extremely attractive” abilities when it came to communicator.
“In reality, he was, in reality, more like a celebrity rather than an economist,” wrote Tsipras.
Clashing Priorities
The former leader alleges that Varoufakis possessed a personal agenda which involved advancing Varoufakis's publications as well as testing out his economic models using the nation instead of truly advocating its economic stability.
Tsipras explained that the negotiations to prevent bankruptcy became “not only a way of achieving improved terms for Greece. They were an experiment, an historic opportunity to demonstrate the validity of his ideas.”
Critical Negotiations
During volatile negotiations, Greece came perilously close to leaving the single currency area.
On the line lay both Greece's destiny but also those harsh austerity measures required in exchange for rescue loans by international creditors.
Unsuccessful Alternatives
Efforts to find financing from other sources, such as an urgent plea to Russia to buy Greek bonds, went unanswered.
Helping Greece was tantamount to tossing cash into the garbage, the Russian leader is reputed to have informed his Greek counterpart in Moscow.
Public Vote Followed by U-Turn
In July 2015, those harsh bailout terms were subjected to a public vote, an action that threw the EU into a further existential crisis.
Although the vote was carried decisively by those against austerity, Tsipras had little option to reject its outcome and agree to a bailout package from foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed that he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of magazines the world over … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving creating a parallel currency as well as distributing vouchers to retirees, the leader knew it was the end and asked Varoufakis: “Is this for real?”
Lasting Rebuke
In the memoir, Tsipras asserts how his former ally had proved himself to be “unfit for a deal that required complex and delicate handling.”
Tsipras further claimed that his aggressive approach left him more and more alone with colleagues, endangered the country, while helped hardliners who were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with stunned disbelief in some quarters, while Varoufakis has maintained a conspicuous quiet on the matter.
